LNT looks to pay off short-term debt

Clifton, NJ — Linens 'n Things wants to sell about 3.4 million shares of common stock, using the cash it raises to pay down short-term debt.

With the retailer's stock lately at about $33 a share, the sale could bring in about $112 million in cash.

In a registration statement filed with the Securities and Exchange Commission, Linens 'n Thing said it will use the proceeds to repay short-term borrowings under its revolving credit facility and additional lines of credit. Any remaining proceeds will be used for general corporate purposes.

Credit Suisse First Boston is the lead underwriter for the proposed offering.

Featured Video

  • Live From New York: Fashion Comes Across the Pond

    Camera Icon More Videos

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.


HTT Current issue for September 2017

See the September 2017 issue of Home & Textiles Today. In this issue, we look at the Attack of the Killer Third Tier: Monster off-pricers are climbing to the top of the food chain, plus New Products: 40 pages of new products debuting at the New York Home Fashions Market; Home Stores: TJX unveils first U.S. HomeSense store; Clicks to Bricks: Boll & Branch moves from digital to physical retailing; and much more... See details!