Yum! Brands tenders senior notes
Louisville, Ky. Yum! Brands said Friday that it tendered $150 million of senior notes. The quick-service company offered its proposal in late April and it was set to expire late Thursday.
Continental Stock Transfer & Trust Co., the depositary for the tender offer, has informed Yum! Brands that holders tendered more than $137 million aggregate principal amount of the 7.70% senior notes due July 1, 2012. The settlement date for the tender offer is today.
Goldman, Sachs & Co. and J.P. Morgan Securities both served as the dealer managers for the tender offer.
New Gap Inc. service enables universal shopping
SAN FRANCISCO Gap Inc. has launched a new online service, “universality,” which enables customers to shop at all of its brands at one time. Customers can now add items from the Gap, Banana Republic, Old Navy and Piperlime web sites into one shopping cart.
Gap Inc. added that customers benefit from a flat shipping rate of $7 and orders from Gap, Banana Republic and Old Navy will ship in one box. Orders from Piperlime will ship separately and continue to offer free shipping and returns.
“We’re thrilled to offer our customers the ease and convenience of shopping our four amazing brands online with only one check-out,” said Toby Lenk, president of Gap Inc. Direct. “Universality allows us to leverage the strength of our iconic brands and still maintain each brand’s identity.”
Amazon.com to boost digital offerings
SEATTLE Amazon.com has plans to launch a streaming video service in the next few weeks as part of its plan to boost its digital offerings, said ceo Jeff Bezos, speaking at The Wall Street Journal’s D: All Things Digital conference, according to reports.
Bezos reportedly also talked about Amazon’s portable reading device, Amazon Kindle, saying it could possibly become an important part of its online business.
The company recently lowered Kindle’s price to $359 from $399.