Gap Floating $2.25 Billion in New Debt Financing

Apr 25, 2020 | Top Stories

By 99percent

News_Update_-_99percent

Gap Floating $2.25 Billion in New Debt Financing
Gap Floating $2.25 Billion in New Debt Financing 3Struggling retailer Gap (NYSE:GPS) is raising $2.25 billion by issuing new debt, the company announced Thursday. This will come from three senior secured notes. The first has an aggregate principal amount of $500 million, an annual interest rate of 8.375%, and matures in 2023. The second is a $750 million issue bearing a rate of 8.625% and …
News story posted on 2020-04-25T05:59:00.0000000Z

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