Bermuda-based jewellery giant Signet Jewelers Ltd has raised $400 million in a sale of debt to help fund its recently announced acquisition of Zale Corporation.

The offering of senior unsecured notes, which mature on June 15, 2024, was made by the group’s subsidiary Signet UK Finance plc, and will pay an interest to investors at a rate of 4.7 percent. The sale of the notes closed yesterday.

JP Morgan Securities LLC, Fifth Third Securities, Inc and PNC Capital Markets LLC acted as joint book-running managers for the offering.