Perry Ellis International Inc. said the company notified U.S. Bank National Association of intent to redeem the remaining $50 million of the company’s outstanding 7.875 percent senior subordinated notes due in 2019.

The total redemption price for the notes is expected to be approximately $50.6 million, which includes 100 percent of the principal amount of the notes as well as accrued and unpaid interest to, but not including, the redemption date, which will be on May 29, 2018. Upon the redemption by the company of the notes, none of the notes will remain outstanding. The company expects to pay the redemption price for the notes with repatriated funds and from its senior credit facility.

Oscar Feldenkreis, CEO and president of Perry Ellis International, Inc. commented, “The strong financial condition of the company has allowed us to take advantage of this opportunity to adjust our capital structure and to reduce our overall cost of capital. We have been managing our working capital very efficiently and last year generated $30 million in net cash from operations. We are committed to maintaining our solid financial foundation that provides us with the flexibility to invest in our growth and produce increased cash flow for the benefit of our shareholders.”

Perry Ellis International’s brands include: Perry Ellis, An Original Penguin by Munsingwear, Laundry by Shelli Segal, Rafaella, Cubavera, Ben Hogan, Savane, Grand Slam, John Henry, Manhattan, Axist, Jantzen and Farah. The company also operates some brands through licensing trademarks from third parties, including: Nike and Jag for swimwear; Callaway, PGA TOUR, Jack Nicklaus for golf apparel and Guy Harvey for performance fishing and resort wear.