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LB - Victoria's Secret to raise $500M via private debt offering
L Brands Inc.
Victoria’s Secret & Co., a subsidiary of L Brands (LB) to sell $500M of senior unsecured notes due 2029 in a private placement.Victoria’s Secret is a recently formed company, which L Brands intends to separate from its current business by means of a spin-off to its shareholders. Net proceeds will be used to fund a portion of a cash payment to L Brands, after completion of spin-off.