Michigan-based footwear, apparel and accessories giant Wolverine Worldwide, the publicly traded parent company of such well known brands as Hush Puppies, Merrell, Sebago and Wolverine, has announced it will offer $375 million aggregate principal amount of senior notes, which will be due in 2020.

The company plans to use the money raised from the offering to partially finance its acquisition of the Performance & Lifestyle arm of Collective Brands, Inc. (“CBI”), which includes the brands Sperry Top-Sider, Saucony, Stride Rite and Keds.
That acquisition was announced four months ago.

The additional funds will also be used to “repay any amounts outstanding under, and terminate, its existing revolving credit facility, repay certain of CBI’s indebtedness and pay related fees and expenses,” an employee of Wolverine said in a statement.