By  on October 8, 2013

Neiman Marcus Group said it plans to sell $1.56 billion in bonds to help pay for its $6 billion buyout by Ares Management and the Canada Pension Plan Investment Board.

Subject to market conditions, the company said it plans to “launch a private placement of $960 million principal amount senior cash pay notes due 2021 and $600 million senior [payment-in-kind] toggle notes due 2021.” The toggle notes allow Neiman’s to make payments on that debt in either cash or additional notes.

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