20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Macy's Inc. (NYSE:M) on Wednesday announced it has priced a $1.3 billion debt offering at an interest rate of 8.375%.
The amount to be raised is $200 million above what the retailer stated earlier on Tuesday. Macy's said the offering for the 5-year bonds is expected to close on June 8.
The Cincinnati-based company said the funds raised would be used to repay all outstanding amounts under an existing revolving credit facility.
JPMorgan Chase & Co. (NYSE:JPM), Goldman Sachs Group Inc. (NYSE:GS), Bank of America Corp. (NYSE:BAC), and Credit Suisse Group AG (NYSE:CS) acted as book runners for the offering, according to the Wall Street Journal.
Retailers Kohl's Corporation (NYSE:KSS) and Nordstrom Inc. (NYSE:JWN) also raised funds in bond offerings in recent week.
Macy's stock posted its largest percentage gain in a day on record on Wednesday, as earlier noted by MarketWatch.
The jump came as interest in the debt offering showed that investors are still optimistic about a recovery in the retail sector. Macy's has been among the retailers that struggled to return profit even ahead of the novel coronavirus (COVID-19) pandemic.
Macy's shares closed 19.6% higher at $7.38 on Wednesday and added another 7% in the after-hours session at $7.90.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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