US beauty company Elizabeth Arden, Inc. has today announced plans for a debt offering. Subject to market and other conditions, the company says it intends to offer $100m aggregate principal amount of senior notes, due 2021. The notes are being offered as additional notes under an indenture pursuant to which the company previously issued $250m aggregate principal amount of 7.375% senior notes, due 2021. Arden intends to use the net proceeds from the offering to repay a portion of its outstanding indebtedness under its revolving credit facility.
Arden recently reported rocky financial figures for the first half of fiscal 2014, during which net sales of Elizabeth Arden branded products grew just 2% as fragrances fell by 10% compared with the prior year period.