Nordstrom Refinances Revolving Credit Facility
01 Aprile 2015 - 10:03PM
Business Wire
Nordstrom, Inc. (NYSE: JWN) announced today that it has
completed a new five-year $800 million senior unsecured revolving
credit facility. The new facility replaces an $800 million senior
unsecured revolving credit facility that was scheduled to mature in
March 2018.
Effective today, the revolving credit facility may be used for
general corporate purposes and is scheduled to mature in April
2020. At present, there are no outstanding borrowings under the
revolver.
The arrangement of the revolving credit facility was co-led by
Bank of America Merrill Lynch; Wells Fargo Securities, LLC; and US
Bank.
ABOUT NORDSTROM
Nordstrom, Inc. is a leading fashion specialty retailer based in
the U.S. Founded in 1901 as a shoe store in Seattle, today
Nordstrom operates 299 stores in 38 states and Canada. Customers
are served at 116 Nordstrom stores in the U.S. and two in Canada;
173 Nordstrom Rack stores; two Jeffrey boutiques; and one clearance
store. Additionally, customers are served online through
Nordstrom.com, Nordstromrack.com and HauteLook. The company also
owns Trunk Club, a personalized clothing service serving customers
online at TrunkClub.com and its five clubhouses. Nordstrom, Inc.'s
common stock is publicly traded on the NYSE under the symbol
JWN.
Certain statements in this news release contain or may suggest
"forward-looking" information (as defined in the Private Securities
Litigation Reform Act of 1995) that involve risks and
uncertainties, including, but not limited to, trends in our
operations. Such statements are based upon the current beliefs and
expectations of the company's management and are subject to
significant risks and uncertainties. Actual future results may
differ materially from historical results or current expectations
depending upon factors including, but not limited to: successful
execution of our growth strategy, including expansion into new
markets, technological investments and acquisitions, our ability to
realize the anticipated benefits from such growth initiatives, and
the timely completion of construction associated with newly planned
stores, relocations and remodels, all of which may be impacted by
the financial health of third parties; our ability to manage the
transformation of our business/financial model as we increase our
investments in growth opportunities, including our online business
and our ability to manage related organizational changes; our
ability to maintain relationships with our employees and to
effectively attract, develop and retain our future leaders;
effective inventory management, disruptions in our supply chain and
our ability to control costs; the impact of any systems failures,
cybersecurity and/or security breaches, including any security
breach that results in the theft, transfer or unauthorized
disclosure of customer, employee or company information or our
compliance with information security and privacy laws and
regulations in the event of such an incident; successful execution
of our information technology strategy; efficient and proper
allocation of our capital resources; our ability to safeguard our
reputation and maintain our vendor relationships; the impact of
economic and market conditions and the resultant impact on consumer
spending patterns; our ability to respond to the business
environment, fashion trends and consumer preferences, including
changing expectations of service and experience in stores and
online; the effectiveness of planned advertising, marketing and
promotional campaigns in the highly competitive retail industry;
weather conditions, natural disasters, health hazards, national
security or other market disruptions, or the prospects of these
events and the impact on consumer spending patterns; our compliance
with applicable banking related laws and regulations impacting our
ability to extend credit to our customers, employment laws and
regulations, certain international laws and regulations, other laws
and regulations applicable to us, including the outcome of claims
and litigation and resolution of tax matters, and ethical
standards; impact of the current regulatory environment and
financial system and health care reforms; compliance with debt
covenants, availability and cost of credit, changes in interest
rates, and trends in personal bankruptcies and bad debt write-offs;
and the timing and amounts of share repurchases by the company, if
any, or any share issuances by the company, including issuances
associated with option exercises or other matters. Our SEC reports,
including our Form 10-K for the fiscal year ended February 1, 2014,
contain other information on these and other factors that could
affect our financial results and cause actual results to differ
materially from any forward-looking information we may provide. The
company undertakes no obligation to update or revise any
forward-looking statements to reflect subsequent events, new
information or future circumstances.
Nordstrom, Inc.INVESTOR CONTACT: Michelle Berg,
206-303-6072MEDIA CONTACT: Dan Evans, 206-303-3036
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