July 21, 2009
TJX Note Offering Priced At $400M
By Matthew L. Brown
Framingham-based discount retailer TJX Cos. Inc. is offering $400 million in notes due in 2015 to pay off debts that come due later this year and in early 2010.
The notes being offered carry an interest rate of 4.2 percent. The sale is being managed by Banc of America Securities LLC, Deutsche Bank Securities Inc., J.P. Morgan Securities Inc. and RBS Securities Inc.
The company said proceeds of the sale would pay off $200 million in notes due Dec. 15 and $235 million in debt for a Canadian subsidiary due in January 2010. Prior to those due dates, the company said it would use the proceeds for general corporate purposes and as temporary investments.
TJX operates T.J. Maxx, HomeGoods, Marshalls and several other discount retail chains.
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