Neiman Marcus filed for an initial public offering with the Securities & Exchange Commission.
The luxury retailer hasn't yet determined the number of shares or the price range for the proposed stock offering.
Proceeds will largely be used to pay down debt, according to its filing with the Securities and Exchange Commission on Tuesday. The company has $4.7 billion in long term debt. As of May, it had a $660 million asset-based revolving credit line available to it.
Neiman’s was sold for $6 billion in September 2013 to a Los Angeles private equity firm and Canada’s largest public pension fund. Ares Management, L.P. and Canada Pension Plan Investment Board own most of the company along with a smaller group of investors and Neiman Marcus management including CEO Karen Katz.
