Gap, Inc. announced it has closed its previously announced offering of $1.5 billion of senior notes, consisting of $750 million aggregate principal amount of the company’s 3.625 percent senior notes due 2029 and $750 million aggregate principal amount of the company’s 3.875 percent senior notes due 2031.
The company used the net proceeds from the offering of the notes, together with cash on hand, to fund the purchase of $1,918 million in aggregate principal amount of the company’s existing senior secured notes that were accepted for purchase at the early tender deadline pursuant to the company’s previously announced tender offers and consent solicitations.
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