FEDERATED SELLS $450M IN NOTES

CINCINNATI--Federated Department Stores Inc. sold $450 million in 10-percent senior notes, due Feb. 15, 2001, to help repay $935.5 million in notes issued as part of the R.H. Macy & Co. Chapter 11 plan. Proceeds of about $441.6 million, together with $511.9 million from borrowings and receivables-backed certificates, will be used to repay the notes. Interest on $381.4 million of the notes was 10.9 percent, with the remainder at 11.29 percent. They would not have begun to bear interest until Jan. 31.

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