Mexico's Liverpool launches billion-dollar bond offer to fund Nordstrom deal

Nordstrom

16/01/2025 19:21

MEXICO CITY, Jan 16 (Reuters) - Mexican retailer
Liverpool  LIVEPOLC1.MX  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.
    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.
  

 (Reporting by Manuel Farias; Writing by Kylie Madry; editing by
Diane Craft)
 ((Spanish Edition Table; santiago.desk@thomsonreuters.com))