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Elizabeth Arden Plans to Offer $150M in Notes

NEW YORK — Elizabeth Arden Inc. said it plans to offer $150 million of its senior subordinated notes due 2014.<BR><BR>The deal is subject to market and other conditions. <BR><BR>The New York-based prestige fragrance and beauty products company...

NEW YORK — Elizabeth Arden Inc. said it plans to offer $150 million of its senior subordinated notes due 2014.

The deal is subject to market and other conditions.

The New York-based prestige fragrance and beauty products company said in a statement it intends to use the net proceeds to repurchase $104 million aggregate principal amount of its 11 3/4 percent senior secured notes due 2011 pursuant to a cash tender offer. It also said the proceeds would allow for consent solicitation for all of the outstanding 11 3/4 percent notes launched on Dec. 24, 2003, and to redeem $20 million aggregate principal amount of its 10 3/8 percent senior notes due 2007.

The debt offering is conditioned on the success of the tender offer.

This story first appeared in the January 7, 2004 issue of WWD.  Subscribe Today.