Wolverine Worldwide Announces Offering of $375M Senior Notes
Wolverine Worldwide (NYSE: WWW) today announced that it intends to offer $375 million aggregate principal amount of senior notes due 2020 (the "Notes"). The Company intends to use the net proceeds from the offering to finance, in part, its acquisition of the Performance + Lifestyle Group business (the "PLG Business") of Collective Brands, Inc. ("CBI"), repay any amounts outstanding under, and terminate, its existing revolving credit facility, repay certain of CBI's indebtedness, and pay related fees and expenses. The Notes will be guaranteed by certain of the Company's domestic subsidiaries.
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