EX-99.1 4 a991october2015debtclosing.htm PRESS RELEASE
Exhibit 99.1
L BRANDS ANNOUNCES THE CLOSING OF ITS SENIOR NOTES OFFERING
Columbus, Ohio (Oct. 30, 2015) - L Brands, Inc. (NYSE: LB) (the “Company”) announced today the closing of its previously announced offering of $1 billion aggregate principal amount of unsecured senior notes due 2035.
The notes are not registered under the Securities Act of 1933 (the “Securities Act”) or the securities laws of any state and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Securities Act and applicable state securities laws. The notes may be resold by the initial purchasers pursuant to Rule 144A and Regulation S under the Securities Act.
The Company intends to use the net proceeds of the offering, after deducting underwriting discounts and commission and estimated offering expenses, for general corporate purposes, including capital expenditures, dividends and share repurchases.
The securities have been offered only to persons reasonably believed to be qualified institutional buyers under Rule 144A under the Securities Act and outside the United States in compliance with Regulation S under the Securities Act. This press release is being issued pursuant to Rule 135c under the Securities Act, and is neither an offer to sell nor a solicitation of an offer to buy any of the notes referred to above. There shall not be any sale of any such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
ABOUT L BRANDS:
L Brands, through Victoria’s Secret, PINK, Bath & Body Works, La Senza and Henri Bendel, is an international company. The company operates 2,987 company-owned specialty stores in the United States, Canada and the United Kingdom, and its brands are sold in nearly 700 additional noncompany-owned locations worldwide. The company’s products are also available online at www.VictoriasSecret.com, www.BathandBodyWorks.com, www.HenriBendel.com and www.LaSenza.com.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
L Brands, Inc. cautions that any forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) contained in this press release involve risks and uncertainties and are subject to change based on various factors, many of which are beyond our control. Accordingly, our future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements. Words such as “estimate,” “project,” “plan,” “believe,” “expect,” “anticipate,” “intend,” “planned,” “potential” and any similar expressions may identify forward-looking statements. Risks associated with the following factors, among others, in some cases have affected and in the future could affect our financial performance and actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements included in this press release:

• | general economic conditions, consumer confidence, consumer spending patterns and market disruptions including severe weather conditions, natural disasters, health hazards, terrorist activities, financial crises, political crises or other major events, or the prospect of these events;

• | the seasonality of our business;

• | the dependence on a high volume of mall traffic and the availability of suitable store locations on appropriate terms;

• | our ability to grow through new store openings and existing store remodels and expansions;

• | our ability to successfully expand into global markets and related risks;

• | our relationships with independent franchise, license and wholesale partners;

• | our direct channel businesses;

• | our failure to protect our reputation and our brand images;

• | our failure to protect our trade names, trademarks and patents;

• | the highly competitive nature of the retail industry generally and the segments in which we operate particularly;

• | consumer acceptance of our products and our ability to keep up with fashion trends, develop new merchandise and launch new product lines successfully;

• | our ability to source, distribute and sell goods and materials on a global basis, including risks related to:

• | political instability;

• | duties, taxes and other charges;

• | legal and regulatory matters;

• | volatility in currency exchange rates;

• | local business practices and political issues;

• | potential delays or disruptions in shipping and transportation and related pricing impacts;

• | disruption due to labor disputes; and

• | changing expectations regarding product safety due to new legislation;

• | fluctuations in foreign currency exchange rates;

• | stock price volatility;

• | our failure to maintain our credit rating;

• | our ability to service or refinance our debt;

• | our ability to retain key personnel;

• | our ability to attract, develop and retain qualified employees and manage labor-related costs;

• | the inability of our manufacturers to deliver products in a timely manner and meet quality standards;

• | fluctuations in product input costs;

• | fluctuations in energy costs;

• | increases in the costs of mailing, paper and printing;

• | claims arising from our self-insurance;

• | our ability to implement and maintain information technology systems and to protect associated data;

• | our failure to maintain the security of customer, associate, supplier or company information;

• | our failure to comply with regulatory requirements;

• | tax matters; and

• | legal and compliance matters.

We are not under any obligation and do not intend to make publicly available any update or other revisions to any of the forward-looking statements contained in this press release or to reflect circumstances existing after the date of this press release or to reflect the occurrence of future events even if experience or future events make it clear that any expected results expressed or implied by those forward-looking statements will not be realized. Additional information regarding these and other factors can be found in “Item 1A. Risk Factors’ in our 2014 Annual Report on Form 10-K.

For further information, please contact:

Investor Relations |  |  |  | Media Relations
Amie Preston |  |  |  | Tammy Roberts Myers
(614) 415-6704 |  |  |  | (614) 415-7072
apreston@lb.com |  |  |  | communications@lb.com