Levi Strauss Announces Closing of $500 Million Senior Unsecured Notes Offering


Levi Strauss & Co., one of the world’s largest brand-name apparel companies, announced closing the brand’s previously announced offering of $500 million of its 3.5% Senior Unsecured Notes due 2031.

The company intends to use the net proceeds from the offering, together with cash on hand, to redeem $800 million aggregate principal amount of the $1 billion aggregate principal amount of its outstanding 5.00% senior notes due 2025 on March 4, 2020, and to pay fees and expenses related to the offering.

“We’re pleased with the execution of this offering, which will further strengthen our financial position by decreasing interest expense and improving our leverage ratio,” said Harmit Singh, the chief financial officer of Levi Strauss & Co. “Our continued focus on financial discipline, while investing in our brands, our direct-to-consumer channels, and accelerating both the digitization and automation of our business will help us become an even stronger company going forward.”

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