Latham & Watkins Advises Initial Purchasers in Connection with Nordstrom Senior Secured Notes Offering

Members of the firm’s Capital Markets, Real Estate, and Finance Practices advised on the transaction.

April 21, 2020

Nordstrom, Inc. (NYSE: JWN) (the Company) announced that it priced an offering (the Offering) of US$600 million aggregate principal amount of its 8.75% Senior Secured Notes due 2025 (the Notes) at an offering price of 100% of the principal amount thereof. The Notes are secured by six full-line retail stores, including the Company’s Downtown Seattle flagship location, and six distribution centers across the United States. The closing of the offering of the Notes occurred on April 16, 2020. The net proceeds from the sale of the Notes will be used for fees and expenses of the offering and for general corporate purposes.

Latham & Watkins LLP represented the initial purchasers in connection with the transaction with a capital markets team led by New York partners Michael Benjamin, Adam Gelardi, and Peter Sluka, with associates Brian Yoon, Ian Lachow, and Jonathan Hernandez. Advice was also provided on finance matters by Los Angeles partner Jason Bosworth, and on real estate matters by New York partner Michael Haas, Orange County partner Hilary Shalla, and New York counsel Shira Bressler, with associates Elizabeth Vinci and Nairi Salibian.

Notice: We appreciate your interest in Latham & Watkins. If your inquiry relates to a legal matter and you are not already a current client of the firm, please do not transmit any confidential information to us. Before taking on a representation, we must determine whether we are in a position to assist you and agree on the terms and conditions of engagement with you. Until we have completed such steps, we will not be deemed to have a lawyer-client relationship with you, and will have no duty to keep confidential the information we receive from you. Thank you for your understanding.