Thread regarding Nordstrom layoffs

They said they paid off the $600M already?

And then the stock skyrocketed... I knew it was BS.

https://finance.yahoo.com/news/nordstrom-inc-announces-pricing-offerings-214700023.html

Nordstrom, Inc. (NYSE: JWN) announced today that it priced an offering of $250 million aggregate principal amount of its 2.300% senior notes due 2024 (the "2024 Notes") and $425 million aggregate principal amount of its 4.250% Senior Notes due 2031 (the "2031 Notes" and, together with the 2024 Notes, the "Notes"), at an offering price of 100% of the principal amount thereof, in the case of the 2024 Notes and 99.922% of the principal amount thereof, in the case of the 2031 Notes. The sale of the Notes is expected to close on or about April 8, 2021.

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Post ID: @OP+1a2EKDTG

4 replies (most recent on top)

Things are flying off the shelf, we cannot keep up with online ordering! Best year yet!

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Post ID: @4ejo+1a2EKDTG

Business is doing great, lots on extra cash at hand. Tech is getting spot bonuses, at raises, promotions - best year

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Post ID: @1qpy+1a2EKDTG

So they want to replace this collateralized debt with near-junk unbacked debt? And they're willing to pay a $78 million premium out to the bondholders to do this? Do I have that right? Why the rush?

Someone with a better ear for the corp debt shell game, please weigh in here. Does Nordstrom have other plans for the loan collateral?

Nordstrom prices $250M and $425M senior notes offerings

Mar. 25, 2021 12:21 PM ETNordstrom, Inc. (JWN)By: Khyathi Dalal, SA News Editor

Nordstrom (JWN +1.9%) priced an offering of $250M principal amount of its 2.300% senior notes due 2024 and $425M principal amount of its 4.250% Senior Notes due 2031 at an offering price of 100% of the principal amount thereof, in the case of the 2024 Notes and 99.922% of the principal amount thereof, in the case of the 2031 Notes.

Sale of the notes is expected to close on or about Apr. 8, 2021.

Net proceeds along with cash on hand to optionally redeem in full its $600M principal amount of outstanding 8.750% Senior Secured Notes due 2025 including payment of a make-whole premium estimated to be ~$78M.

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Post ID: @lhm+1a2EKDTG

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