Framingham’s TJX has announced a public offering of $1 billion in notes that it will use for corporate expenses, working capital and to offset previous notes.
The notes will will bear interest at a rate of 2.25 percent and begin on Sept. 12, according to the company. The notes will be due in 2026.Â
TJX will use the proceeds from the notes to redeem $375 million in notes with an interest rate of 6.95 percent that are due in April 2019. The remaining $625 million will go towards working capital and other corporate purposes, according to TJX.
Deutsche Bank Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan Securities LLC and Wells Fargo Securities, LLC are acting as joint book-running managers for the notes.
The TJX Companies is an off-price retailer with 3,675 stores in nine countries as of July.
