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SEATTLE, April 8, 2021 /PRNewswire/ Nordstrom, Inc. (NYSE: JWN) announced today the closing on April 8, 2021 of its previously announced offering of $250 million aggregate principal amount of its 2.300% Senior Notes due 2024 (the 2024 Notes ) and $425 million aggregate principal amount of its 4.250% Senior Notes due 2031 (the 2031 Notes and, together with the 2024 Notes, the Notes ).
The Company will use the net proceeds from the sale of the Notes, together with cash on hand, to redeem in full the $600 million aggregate principal amount of outstanding 8.750% Senior Secured Notes due 2025 (the 2025 Notes ), which were issued in April 2020 during the onset of the COVID-19 pandemic. The redemption price for the 2025 Notes is equal to 100% of the principal amount plus accrued and unpaid interest, including a make-whole premium. The redemption date for the 2025 Notes is April 24, 2021.
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