Nordstrom closes senior notes offering
Seattle – Nordstrom has closed a previously announced offering of $400 million aggregate principal amount of 5.00% Senior Notes due 2044. The proceeds from the sale of the notes will be used for general corporate purposes, including repayment or retirement of outstanding indebtedness due in 2014, financing of capital expenditures and working capital needs.
The notes were offered in a private placement, solely to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933.
Bon-Ton further amends loan & security agreement
York, Pa. – Bon-Ton Stores has entered into an amendment to the company’s existing $675 million asset-based revolving credit facility that was scheduled to mature in March 2016. Bank of America, N.A. continues to serve as Agent on the credit facility.
The second amendment extends the maturity date of the commitments under the credit facility to Dec. 12, 2018. The amendment provides interest rate reductions and generally favorable revisions regarding the facility requirements.
“We are very pleased with the enhancements made to our facility, which we believe position us well for the future,” said Keith Plowman, executive VP and CFO. “We appreciate the strong level of support from our lending group of bank institutions.”
ABC Supply fills CIO spot
ABC Supply has named Tony Vaden as chief information officer. He replaces Kathy Hendricks, who moved to a newly created post as executive director of customer connectivity for ABC Supply.
Vaden is an award-winning veteran of the information technology industry, and he will oversee all aspects of the information technology systems that support the company’s computing needs.
He joins ABC Supply from American Tire Distributors (ATD) where he had been chief information officer. ATD is the largest tire and wheel distributor serving retail tire dealers in the United States and Canada. Previously, Vaden had held senior technology positions at Solectron (now a subsidiary of Flextronics), Dell and AMP (now TE Connectivity).
ABC Supply operates 450 branches in 45 states.