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LEVI STRAUSS & CO.

(LEVI)
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Levi Strauss & Co. : Announces the Redemption of Senior Notes Due 2025

09/01/2021 | 09:09am EDT

Levi Strauss & Co. (NYSE: LEVI) announced today that it will redeem the entire outstanding principal amount of its 5.00% Senior Notes due 2025 (the “Notes”). The redemption date for the Notes is September 30, 2021.

The aggregate principal amount of the Notes outstanding is $200 million. The redemption price for the Notes will consist of 101.667% of the principal amount of the Notes outstanding, plus accrued and unpaid interest on the Notes, if any, up to, but excluding, the redemption date. The company plans to use cash on hand to fund the redemption of the Notes.

"Our ability to generate strong cash flow has enabled the company to both invest in our organic business and fund our recently announced acquisition, as well as return dividends to pre-pandemic levels,” said Harmit Singh, chief financial officer of Levi Strauss & Co. “Even after these uses of capital, liquidity remains solid and we will now comfortably repay the remaining $200 million of our 5% Notes, which will take our gross debt back to pre-pandemic levels.”

Redemption of these Notes will save the company approximately $10 million annually in interest expense.

A notice of redemption is being sent to all currently registered holders of the Notes by the Trustee, Wells Fargo Bank, National Association.

This press release is not an offer to sell or a solicitation of an offer to buy any securities.

About Levi Strauss & Co.

Levi Strauss & Co. is one of the world's largest brand-name apparel companies and a global leader in jeanswear. The company designs and markets jeans, casual wear and related accessories for men, women and children under the Levi's®, Dockers®, Signature by Levi Strauss & Co.™, and Denizen® brands. Its products are sold in more than 110 countries worldwide through a combination of chain retailers, department stores, online sites, and a global footprint of approximately 3,000 retail stores and shop-in-shops. Levi Strauss & Co.'s reported 2020 net revenues were $4.5 billion. For more information, go to http://levistrauss.com, and for company news and announcements go to http://investors.levistrauss.com.


ę Business Wire 2021
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Financials (USD)
Sales 2021 5 756 M - -
Net income 2021 558 M - -
Net Debt 2021 1 225 M - -
P/E ratio 2021 19,1x
Yield 2021 0,99%
Capitalization 10 376 M 10 376 M -
EV / Sales 2021 2,02x
EV / Sales 2022 1,76x
Nbr of Employees 14 800
Free-Float 22,3%
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Technical analysis trends LEVI STRAUSS & CO.
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Mean consensus BUY
Number of Analysts 13
Last Close Price 25,81 $
Average target price 34,96 $
Spread / Average Target 35,5%
EPS Revisions
Managers and Directors
Charles Victor Bergh President, Chief Executive Officer & Director
Harmit J. Singh Chief Financial Officer & Executive Vice President
Robert A. Eckert Non-Executive Chairman
Elizabeth Oneill Chief Operating Officer & Executive Vice President
Troy Matthew Alstead Independent Director
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