Federated prices note offering.CINCINNATI, OHIO--(BUSINESS WIRE)--January 19, 1995--Federated Department Stores This is a list of department stores. In the case of department store groups the location of the flagship store is given. This list does not include large specialist stores, which sometimes resemble department stores. , Inc. announced today that it has entered into an agreement providing for an underwritten public offering by the company of $450 million aggregate principal amount of the company's 10 percent senior notes, due 2001. Goldman Sachs The Goldman Sachs Group, Inc., or simply Goldman Sachs (NYSE: GS) is one of the world's largest global investment banks. Goldman Sachs was founded in 1869, and is headquartered in the Lower Manhattan area of New York City at 85 Broad Street. & Co. is lead manager, and Merrill Lynch & Co. and Chase Securities, Inc. are co-managers, of the underwriting syndicate Underwriting syndicate A group of investment banks that work together to sell new security offerings to investors. The underwriting syndicate is led by the lead underwriter. See also: Lead underwriter. underwriting syndicate See syndicate. . Pursuant to the terms of the underwriting agreement Underwriting agreement The contract between a corporation issuing new publicly offered securities and the managing underwriter as agent for the underwriting group. Compare to agreement among underwriters. , the notes will initially be offered to the public at a price equal to 100 percent of the principal amount, plus accrued interest Accrued Interest The interest that has accumulated on a bond since the last interest payment up to but not including the settlement date. There are two methods for calculating accrued interest: 1) 360-day year method, used for corporate and municipal bonds. , if any, from January 27, 1995. The closing of the offering is subject to customary conditions. If the public offering is completed, the net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of the public offering, together with the proceeds of borrowings under Federated's exiting bank credit facility and the sale of certain receivables-backed certificates, would be used by the company to redeem in their entirety the $381.4 million aggregate principal amount of the company's Series A Notes due June 30, 1999 and the $572.1 million aggregate principal amount of the company's Series B Notes due June 30, 2002. Prior to January 31, 1995, these notes do not bear interest and may be redeemed by the company. If the notes are to be redeemed, formal notice will be given in accordance with the indenture under which the notes were issued. Transfers of the Series A or Series B Notes will be registered by the indenture trustee until the close of business on January 20, 1995. Thereafter, no such transfers will be registered unless Federated Connected and treated as one. See federated database and federated directories. informs the indenture trustee that it will not redeem the notes prior to January 31, 1995. Copies of the prospectus related to the offering may be obtained from Goldman, Sachs & Co., 85 Broad Street, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , New York 10004. Federated, with corporate offices in Cincinnati and New York, is one of the nation's leading department store retailers, with annual sales of more than $14 billion. Federated currently operates 346 department stores in 35 states under the names of Abraham & Straus, Bloomingdale's, The Bon Marche, Bullock's, Burdines, Goldsmith's, Jordan Marsh, Lazarus, Macy's, Rich's and Stern's. The company also operates more than 100 specialty and clearance stores nationally. CONTACT: Federated Department Stores, Inc., Cincinnati Media - Carol Sanger, 513/579-7764 Investor - Susan Robinson, 513/579-7780 |
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