Bath & Body Works Announces Redemption of 6.694% Senior Notes Due 2027

Columbus, OH, March 3, 2026 – Bath & Body Works, Inc. (NYSE: BBWI), a leading specialty retailer and home fragrance brand, has announced a significant financial move that may impact its capital structure and potentially influence its share value. The company has issued a notice of redemption for any and all outstanding 6.694% Senior Notes due 2027 (the “Notes”).

Key Highlights from the Report

• Redemption Announcement: On March 3, 2026, Bath & Body Works issued a formal notification to redeem all outstanding 6.694% Senior Notes due 2027.
• Redemption Date: The scheduled redemption date for these Notes is April 10, 2026.
• Redemption Price Calculation: The price for redemption will be calculated in accordance with the governing indenture and will be the greater of:
  • 100% of the principal amount of the Notes to be redeemed, or
  • The sum of the present values of the remaining scheduled payments of principal and interest on the Notes, discounted to the redemption date at the applicable treasury rate plus 50 basis points, plus accrued interest to the redemption date.
• Issuer’s Intention: The company clarified that the information provided does not constitute an official notice of redemption for the Notes, but serves to inform the market and investors of its intention.

Why This Matters for Shareholders

This announcement is potentially price sensitive and may impact the value of Bath & Body Works shares for several reasons:

• Debt Reduction: Early redemption of outstanding debt can be a positive sign for investors, indicating improved cash flow and a stronger balance sheet. By redeeming the 6.694% Senior Notes, Bath & Body Works could be aiming to reduce interest expenses, enhance financial flexibility, and optimize its capital structure.
• Interest Savings: These Senior Notes carry a relatively high interest rate of 6.694%. Their redemption could result in substantial interest savings, which may support future profitability and potentially enable additional investments or shareholder returns (such as dividends or share buybacks).
• Market Signal: Redemption of long-term debt is often interpreted as a sign of management confidence in the company’s cash flows and future prospects. It may also signal to the market that the company is in a position to refinance at more favorable rates or reduce leverage, both of which are generally positive for equity valuations.
• Impact on Credit Profile: Depending on the company’s underlying cash balances and overall debt levels, this move could improve Bath & Body Works’ credit profile and possibly affect its credit ratings.
• Potential Risks: Investors should also consider whether the redemption is funded from existing cash or new borrowings, as this could affect leverage ratios differently. The company has not disclosed the funding source in this filing.

Other Relevant Corporate Details

• Company Name: Bath & Body Works, Inc.
• Trading Symbol: BBWI
• Exchange: The New York Stock Exchange (NYSE)
• Chief Financial Officer: Eva C. Boratto
• Business Address: Three Limited Parkway, Columbus, OH 43230
• SEC Reporting: The company is not classified as an emerging growth company under current SEC rules.

What Should Investors Watch For?

Shareholders and market participants should monitor for:

• The official notice of redemption, which will contain the final redemption price and other procedural details.
• Any subsequent disclosures about the source of funds for the redemption and whether the company plans to issue new debt.
• The effect of the redemption on Bath & Body Works’ quarterly results, especially relating to interest expense and cash flows.
• Potential rating agency actions or analyst commentary in response to the company’s capital structure changes.

Note: The company has confirmed that this communication does not itself constitute a final notice of redemption for the Notes, but is a regulatory disclosure as required under SEC rules.

Disclaimer

This article is for informational purposes only and does not constitute an offer to buy or sell securities. Investors should review official company filings and consult with their financial advisors before making any investment decisions. The information above is based on the company’s SEC Form 8-K dated March 3, 2026. All forward-looking statements are subject to risks and uncertainties.

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