Boston, MA 06/05/2014 (wallstreetpr) – The TJX Companies, Inc. (NYSE:TJX), reportedly revealed the pricing of a public offering of the unsecured notes. They worth $750 million and are due in the year 2021 with an interest rate of 2.750% per annum, starting from 05th June 2014. The company contemplates using the revenue for redemption of 4.200% notes, which are due on 15th August 2015. The remaining difference amount will be utilized as a working capital and general benefits of the company.
Pricing Of Notes
Deutsche Bank Securities Inc., HSBC, BofA Merrill Lynch and Wells Fargo Securities are joint Book running Managers. The offer made under an effective registration statement has been filed with the Securities and Exchange Commission. This is a good opportunity for the company to improve its liquidity and decrease interest expense and weighted average coupon rate. The company maintains a strong Balance Sheet with $2.1 billion of Cash position as on 3rd May, 2014. One of the renowned Credit Ratings & Research Agencies Moody’s Corporation has rated TJX’s senior unsecured notes as A3, that implies a stable rating.
Good News for Shareholders
The TJX Companies, Inc. (NYSE:TJX) is among one of the companies that firmly believes in returning value to its shareholders. That could be referred to the company’s recent hike in its quarterly dividend by 21% in April 2014. The Company anticipates to repurchase about $1.6 to $1.7 billion of shares in the year 2015. TJX aims to pay a quarterly dividend of 17.5 cents per share on Jun 5, 2014 to shareholders with a record date as of 15th May. The new dividend will yield the returns of 1.1% per annum.
More About The TJX Companies, Inc. (NYSE:TJX)
The The TJX Companies, Inc. (NYSE:TJX) is one of the largest international fashion costume designer brand in the United States. It also sells home goods. The Co. was founded in 1956 in the name of Zayre.
