Declaring it had successfully completed its cash tender offer for two issues of senior debt notes that are to come due later this year, Macy's Inc. said the "aggregate consideration for the notes accepted for purchase, plus accrued and unpaid interest" was about $685.7 million. Prior to the offer, the total aggregate principal outstanding on the two sets of notes was $950 million. Macy's said retiring these notes early (the transaction took place on Feb. 11) will cut about $7.0 million in interest expense during 2009.
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