Elizabeth Arden Prices Private Offering Of $100 Mln Notes Due 2021

(RTTNews) - Elizabeth Arden, Inc. (RDEN) Monday said it priced its previously announced private offering of $100 million aggregate principal amount of senior notes due 2021.

The notes will be sold to investors at a price of 106.75 percent of the principal amount thereof and will bear interest at a rate equal to 7.375 percent per annum.

The notes will be additional notes under an indenture following which the company previously issued $250 million aggregate principal amount of 7.375 percent senior notes due 2021.

The closing of the private offering is expected to occur on January 30.

The company plans to use the net proceeds from the sale of the notes to repay a portion of its debt under its revolving credit facility.

The stock closed up 0.4 percent on Monday at $27.27.