Limited Brands, Inc. Announces Completion of Its Tender Offer for 6 1/8% Notes due 2012
August 19 2009 - 4:30PM
PR Newswire (US)
COLUMBUS, Ohio, Aug. 19 /PRNewswire-FirstCall/ -- Limited Brands,
Inc. (NYSE:LTD) ("Limited Brands") announced today the completion
of its previously announced cash tender offer for any and all of
its $294,600,000 outstanding 6 1/8% Notes due 2012, CUSIP No.
532716AH0 (the "Notes"). (Logo:
http://www.newscom.com/cgi-bin/prnh/20020520/CLM001LOGO) The tender
offer expired at 12:00 midnight, Eastern Time, on Aug. 18, 2009
(the "Expiration Date"). As of the Expiration Date, tenders have
been received from holders of $103,139,000 in aggregate principal
amount of the outstanding Notes. This represents approximately 35%
of the outstanding principal amount of the Notes. A total of
$191,461,000 in aggregate principal of the Notes remains
outstanding. Pursuant to the terms of the tender offer, Notes not
tendered in the tender offer will remain outstanding, and the terms
and conditions governing the Notes, including the covenants and
other provisions contained in the indenture governing the notes,
will remain unchanged. This press release shall not constitute an
offer to purchase or a solicitation of an offer to purchase with
respect to any securities. The tender offer was made pursuant to
the Offer to Purchase dated July 20, 2009, and the related Letter
of Transmittal. Limited Brands retained Banc of America Securities
LLC and The Williams Capital Group, L.P. as the dealer managers in
connection with the tender offer. Questions regarding the tender
offer and requests for documents may be directed to Banc of America
Securities LLC, Global Debt Advisory Services, at (888) 292-0070
(U.S. toll-free) and (980) 388-9217 (collect) and The Williams
Capital Group, L.P., at (212) 373-4237. Copies of the Offer to
Purchase and Letter of Transmittal can also be obtained from the
information agent, D.F. King & Co., Inc. at (800) 848-3416
(U.S. toll-free) and (212) 269-5550 (collect). ABOUT LIMITED
BRANDS: Limited Brands, through Victoria's Secret, Pink, Bath &
Body Works, C.O. Bigelow, La Senza, White Barn Candle Co. and Henri
Bendel, presently operates 3,009 specialty stores. The company's
products are also available online at
http://www.victoriassecret.com/, http://www.bathandbodyworks.com/,
http://www.henribendel.com/ and http://www.lasenza.com/. Safe
Harbor Statement Under the Private Securities Litigation Reform Act
of 1995 We caution that any forward-looking statements (as such
term is defined in the Private Securities Litigation Reform Act of
1995) contained in this press release involve risks and
uncertainties and are subject to change based on various important
factors, many of which are beyond our control. Accordingly, our
future performance and financial results may differ materially from
those expressed or implied in any such forward-looking statements.
Words such as "estimate," "project," "plan," "believe," "expect,"
"anticipate," "intend," "planned," "potential" and similar
expressions may identify forward-looking statements. Risks
associated with the following factors, among others, in some cases
have affected and in the future could affect our financial
performance and actual results and could cause actual results to
differ materially from those expressed or implied in any
forward-looking statements included in this press release: --
general economic conditions, consumer confidence and consumer
spending patterns; -- the global economic crisis and its impact on
our suppliers, customers and other counterparties; -- the impact of
the global economic crisis on our liquidity and capital resources;
-- the dependence on a high volume of mall traffic and the possible
lack of availability of suitable store locations on appropriate
terms; -- the seasonality of our business; -- our ability to grow
through new store openings and existing store remodels and
expansions; -- our ability to expand into international markets; --
independent licensees; -- our direct channel business including our
new distribution center; -- our failure to protect our reputation
and our brand images; -- our failure to protect our trade names and
trademarks; -- market disruptions including severe weather
conditions, natural disasters, health hazards, terrorist activities
or the prospect of these events; -- stock price volatility; -- our
failure to maintain our credit rating; -- our ability to service
our debt; -- the highly competitive nature of the retail industry
generally and the segments in which we operate in particular; --
consumer acceptance of our products and our ability to keep up with
fashion trends, develop new merchandise, launch new product lines
successfully, offer products at the appropriate price points and
enhance our brand image; -- our ability to retain key personnel; --
our ability to attract, develop and retain qualified employees and
manage labor costs; -- our reliance on foreign sources of
production, including risks related to: -- political instability;
-- duties, taxes, other charges on imports; -- legal and regulatory
matters; -- volatility in currency and exchange rates; -- local
business practices and political issues; -- potential delays or
disruptions in shipping and related pricing impacts; and -- the
disruption of imports by labor disputes; -- the possible inability
of our manufacturers to deliver products in a timely manner or meet
quality standards; -- fluctuations in energy costs; -- increases in
the costs of mailing, paper and printing; -- self-insured risks; --
our ability to implement and sustain information technology
systems; -- our failure to comply with regulatory requirements; and
-- legal matters. We are not under any obligation and do not intend
to make publicly available any update or other revisions to any of
the forward-looking statements contained in this press release to
reflect circumstances existing after the date of this press release
or to reflect the occurrence of future events even if experience or
future events make it clear that any expected results expressed or
implied by those forward-looking statements will not be realized.
Additional information regarding these and other factors can be
found in "Item 1A. Risk Factors" in our 2008 Annual Report on Form
10-K.
http://www.newscom.com/cgi-bin/prnh/20020520/CLM001LOGODATASOURCE:
Limited Brands, Inc. CONTACT: /PRNewswire -- Aug. 19/ Company News
On-Call: http://www.prnewswire.com/comp/868075.html
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