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Limited Brands raises note offering to $1 billion
Columbus,Ohio -- Limited Brands has expanded its public senior debt offering to $1 billion from the $750 million that it initially announced on Tuesday.
The company plans to use net proceeds from the offering to repurchase $500 million worth of shares under a new stock buyback authorized by company's board. The new program includes $31 million remaining under the company's existing $200 million share repurchase program. Limited Brands has priced the notes, which come due in 2021, at 6.625%. -
JCPenney earns diversity accolades
PLANO, Texas -- JCPenney announced that has been named the number one retailer on DiversityInc's annual ranking of "Top 50 Companies for Diversity," which recognizes leading organizations for best practices in diversity management. This is the second consecutive year that the company has earned its place on the list, moving up 11 spots to No. 35 overall. The company also snagged the seventh position on DiversityInc.'s "Top 10 Companies for Latinos."