Wolverine Worldwide WWW today announced the pricing of its offering of $375 million aggregate
principal amount of 6.125% 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. Net proceeds from the sale
of the Notes, after the initial purchasers' discounts and the Company's
estimated expenses, are expected to be approximately $367.0 million.
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