Pins matching tag:Bondholders

Saks Global settled an exchange offer that raised roughly $600 million in new secured financing and swapped $2.2 billion of senior secured notes for new debt, after about 98% of eligible bondholders agreed to the terms, as the retailer worked to ease the strain from its Neiman Marcus acquisition.

Saks Global failed to make a bond interest payment of more than $100 million that was due on 30 December 2025, entering a grace period while it negotiated with creditors, just under five months after its last debt restructuring.