Stock Track | Carter's Soars 5.03% as Subsidiary Prices Upsized $575 Million Senior Notes Offering

Stock Track10-30

Carter's (CRI) stock surged 5.03% in Thursday's trading session, following news that its subsidiary, The William Carter Company, has successfully priced an upsized senior notes offering. The company announced late Wednesday that it had increased the offering size from $500 million to $575 million, with the notes carrying a 7.375% interest rate and due in 2031.

The pricing of the notes at par value suggests strong demand from investors, which likely contributed to the positive market reaction. The offering, expected to close on November 13, represents a significant financial move for Carter's, potentially strengthening its capital structure and providing additional liquidity.

Investors appear to be responding favorably to the company's financial strategy. The proceeds from this offering will be used to redeem Carter's existing 5.625% senior notes due 2027, cover related costs, and fund general corporate purposes. This refinancing at a higher interest rate, despite the current high-rate environment, could be interpreted as a sign of the company's strong credit position and long-term financial planning, factors that often resonate positively with the market.

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