Saks Global rescues its holiday with $350M in new financing

Saks Global has picked up $350 million in financing commitments from SLR Credit Solutions, including a $300 million first-in, last-out facility and a $50 million secured term loan facility, the company said Thursday. The transaction is expected to close by June 30.

The company acquired Neiman Marcus Group, which also includes Bergdorf Goodman, for $2.7 billion late last year, and was probably aware it could run into liquidity issues before long, according to Tim Hynes, head of credit research at Debtwire. 

Saks Global rescues its holiday with $350M in new financing | Retail Dive

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