Kohl's Corporation $(KSS)$ has announced the pricing of its private offering of $360 million in senior secured notes, which carry an interest rate of 10.000% and are due in 2030. This offering was previously announced and is expected to close on May 30, 2025, subject to customary closing conditions. The notes will be guaranteed by Kohl's subsidiaries, with certain guarantees secured by 11 distribution centers and e-commerce fulfillment facilities held in a newly-formed holding company. Kohl's plans to use the proceeds from this offering to repay borrowings under its revolving credit facility and expects to borrow under this facility to repay its 4.25% notes due in 2025 upon maturity.
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