Mexican retailer Liverpool has launched a $1 billion bond offer to fund its contribution to buying out upscale U.S. department store chain Nordstrom, IFR, an LSEG service, reported on Thursday.
Nordstrom
The bond offer is split in two $500 million senior notes, one with a seven-year maturity and the other with a 12-year maturity, IFR reported.
Pricing of the notes is expected later on Thursday.
Liverpool teamed up with the Nordstrom family in December to take the iconic chain private in a $4 billion deal, six years after a similar attempt fell short.
The Nordstrom family has wanted to take the company private in part because it believes it is undervalued in the public markets, according to sources familiar with the matter.
Nordstrom’s market value currently stands at around $4 billion.
