Levi Strauss prices €475 million senior notes due 2030

SAN FRANCISCO - Levi Strauss & Co. has priced €475 million of 4.000% senior notes due 2030 at par in a private offering, the company announced on Tuesday.

The sale of the notes is expected to close on July 29, 2025, subject to customary closing conditions. The offering is being conducted pursuant to Rule 144A and Regulation S under the Securities Act of 1933.

The denim manufacturer plans to use the net proceeds from the offering, along with cash on hand, to redeem in full its 3.375% senior notes due 2027 and pay related fees and expenses. The company maintains a moderate debt level with strong liquidity, evidenced by a healthy current ratio of 1.48 and sufficient cash flows to cover interest payments.

The notes are not being registered under the U.S. Securities Act of 1933 and will only be offered to qualified institutional buyers in the United States under Rule 144A, to investors outside the United States under Regulation S, and to qualified investors in the European Economic Area and United Kingdom under applicable regulations.

The offering is being made pursuant to an offering memorandum dated July 14, 2025, as supplemented by a pricing supplement dated July 15, 2025.

The company noted that the press release does not constitute a notice of redemption for the 2027 Notes, and holders of those notes should refer to the relevant notice of redemption once available for information regarding the redemption price, record date, and redemption date.

This announcement is based on a press release statement from Levi Strauss & Co.

In other recent news, Levi Strauss & Co. reported impressive second-quarter earnings, surpassing analyst expectations. The company achieved earnings per share of 22 cents, doubling the anticipated 11 cents, with revenue growth of 6.4% year-over-year, significantly outperforming the projected 1% growth. Levi Strauss also raised its guidance for the second half of the year, projecting earnings per share of 69 cents. Following these results, TD Cowen increased its price target for Levi Strauss to $22, maintaining a Buy rating, while UBS also kept its Buy rating with a $20 price target. Stifel raised its price target to $24, citing strong execution and balanced strength in the company’s performance. JPMorgan lifted its price target to $23, highlighting Levi’s broad-based organic revenue growth of 9%, which doubled Street expectations. The company has also increased its fiscal year 2025 adjusted EPS guidance to $1.25-$1.30 and raised its full-year revenue forecast. Levi Strauss continues to demonstrate strong performance across all regions, with notable growth in the Americas and Europe.

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