Foot Locker, Inc. [NYSE: FL] has declared the pricing of its private offering of $400 million in aggregate principal amount of its 4.000% Senior Notes due 2029. The firm has set a price of Notes at 100% of the principal amount. Foot Locker has earned a reputation as a leader having a portfolio of brands including Foot Locker, Kids Foot Locker, Champs Sports, Eastbay, WSS, Footaction, and Sidestep.
It has nearly 3,000 retails stores in 27 countries. The firm disclosed that it is planning to utilize the profit from the offering of $400 Million Senior Notes for general business purposes. The offering of $400 million Senior Notes is likely to be completed on October 5, 2021. The completion of an offering is dependent on certain customary closing conditions.
Furthermore, the firm disclosed that the Notes are being presented to persons who are eligible institutional buyers as per Rule 144A under the Securities Act of 1933. Moreover, the eligible buyer outside the United States will be able to get the Notes as per Regulation S under the Securities Act.
In addition, the Notes have not been listed under the Securities Act or the securities laws of any other authority. The Notes may not be presented or traded in the US lacking listing or an appropriate immunity from listing obligations.