PVH Corp. Receives Requisite Consents Pursuant to Its Consent Solicitation Related to Its 7.375% Senior Notes Due 2020
NEW YORK--(BUSINESS WIRE)--Nov. 9, 2012--
PVH Corp. (NYSE: PVH) announced today that it has received the requisite
consents from holders of PVH’s 7.375% Senior Notes due 2020 (the
“Notes”) to amend the indenture governing the Notes. The consents were
obtained in accordance with PVH’s consent solicitation, which commenced
October 31, 2012 and expired at 5:00 p.m., New York City time, on Friday
November 9, 2012. Consents may no longer be revoked.
PVH and U.S. Bank National Association, the trustee under the indenture
governing the Notes, have entered into a supplemental indenture that
amends the indenture. The supplemental indenture became effective upon
execution by PVH and U.S. Bank National Association. The amendment
increases the amount of secured indebtedness that the indenture permits
PVH to incur without equally and ratably securing the Notes. The
amendment is binding upon all holders of Notes.
Under the terms of the consent solicitation, PVH will pay $10.00 in cash
for each $1,000 principal amount of the Notes for which consent to the
proposed amendment was validly delivered (and not validly revoked) prior
to the expiration time of the consent solicitation.
Barclays Capital Inc., Merrill Lynch, Pierce, Fenner & Smith
Incorporated and Citigroup Global Markets Inc. acted as solicitation
agents for the consent solicitation. The tabulation and information
agent for the consent solicitation was D.F. King & Co.
PVH Corp., one of the world’s largest apparel companies, owns and
markets the iconic Calvin Klein and Tommy Hilfiger brands
worldwide. It is the world’s largest shirt and neckwear company and
markets a variety of goods under its own brands, Van Heusen, Calvin
Klein, Tommy Hilfiger, IZOD, ARROW, Bass and G.H. Bass & Co.,
and its licensed brands, including Geoffrey Beene, Kenneth Cole New
York, Kenneth Cole Reaction, MICHAEL Michael Kors, Sean John, Chaps,
Donald J. Trump Signature Collection, JOE Joseph Abboud, DKNY, Ike Behar and
Source: PVH Corp.
Dana Perlman, 212-381-3502
Treasurer and Senior Vice
President, Business Development and Investor Relations