COLUMBUS, OH – Bath & Body Works, Inc. (NYSE:BBWI) has declared its plan to redeem all remaining 9.375% Senior Notes due 2025. The redemption is set for January 30, 2025, the company disclosed in a recent regulatory filing with the SEC.
The specialty retailer, known for its home fragrances, lotions, soaps, and scented candles, stated that the redemption price would be determined by the terms of the indenture agreement that governs the Notes.
It will be the greater of either 100% of the principal amount of the Notes or the sum of the present values of the remaining scheduled principal and interest payments. These will be discounted to the redemption date on a semiannual basis at the applicable treasury rate, with an additional 50 basis points. Accrued interest up to the redemption date will also be included in the payment to Note holders.
This strategic financial move is part of the company’s efforts to manage its debt. The notice issued by Bath & Body Works does not serve as the formal notice of redemption for the Notes; it is a preliminary announcement made in compliance with regulatory standards.
Bath & Body Works, which has its headquarters in Columbus (WA:CLC), Ohio, operates under the laws of the state of Delaware. The company, formerly known as L Brands, Inc., has undergone several name changes in its history, reflecting its evolving business focus.
The information provided in this article is based on a press release statement and the company’s SEC filing.
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