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1 week ago | 
news.bloombergtax.com | Reshmi Basu
XYour Choices Regarding Cookies and IdentifiersWe and our 150 third party partners use cookies and similar technologies ("Cookies") and hashed identifiers (e.g., a hashed version of your name, email address or phone number) to help us identify you on our site and third-party sites and to process certain information, such as your IP address and digital identifiers, to analyze site usage and provide you with relevant advertisements and content.
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1 week ago | 
bloomberg.com | Eliza Ronalds-Hannon |Reshmi Basu |Irene Perez |Irene Pérez
A Neiman Marcus store in Garden City, New York. (Bloomberg) -- Saks Global Enterprises told creditors it had an adjusted loss of more than $100 million last fiscal year, one day after it announced a $350 million financial lifeline ahead of a looming coupon payment. The luxury retailer has $275 million in overdue payments to suppliers, management told bondholders in a Friday call where it also shared figures from the 12-month period ended Feb.
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1 week ago | 
news.bloomberglaw.com | Eliza Ronalds-Hannon |Reshmi Basu |Irene Perez |Irene García Pérez
Saks Global Enterprisestold creditors it had an adjusted loss of more than $100 million last fiscal year, one day after it announced a $350 million financial lifeline ahead of a looming coupon payment. The luxury retailer has $275 million in overdue payments to suppliers, management told bondholders in a Friday call where it also shared figures from the 12-month period ended Feb. 1, according to people with knowledge of the call’s contents.
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1 week ago | 
news.bloomberglaw.com | Reshmi Basu
-backed is set to receive a $350 million new loan from existing creditors to help fund the firm’s artificial intelligence and growth initiatives.
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1 week ago | 
news.bloombergtax.com | Reshmi Basu |Georgia Hall
A minority group of creditors holding about $600 million of Saks Global Enterprises’ $2.2 billion bond has tapped Greenhill & Co.as a financial adviser ahead of potential talks with the company over its debt stack, according to people with knowledge of the matter, who asked not to be identified discussing private information.
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1 week ago | 
news.bloombergtax.com | Reshmi Basu
Stonepeak Partners-backed Radiate launched a deal to raise $400 million in fresh capital from its owner and also restructure existing debt, according to people with knowledge of the matter. The liquidity injection will be split across a second-out term loan and a third-out loan, said the people, who asked not to be identified discussing a private matter. The financing will pay-in-kind, which allows the cable provider to defer paying interest in cash and instead pay with additional debt, they said.
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1 week ago | 
news.bloomberglaw.com | Reshmi Basu |Georgia Hall
A minority group of creditors holding about $600 million of ’ $2.2 billion bond has tapped as a financial adviser ahead of potential talks with the company over its debt stack, according to people with knowledge of the matter, who asked not to be identified discussing private information.
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1 week ago | 
bloomberg.com | Reshmi Basu
Fiber optic cables, center, and copper Ethernet cables feed into switches inside a communications room at an office in London, U.K., on Monday, May 21, 2018. The Department of Culture, Media and Sport will work with the Home Office to publish a white paper later this year setting out legislation, according to a statement, which will also seek to force tech giants to reveal how they target abusive and illegal online material posted by users.
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1 week ago | 
financialpost.com | Reshmi Basu
Advertisement 1JPMorgan Chase & Co. has been building a new business advising debt-laden companies, sometimes at the expense of boutique firms, taking advantage of a shift to out-of-court restructuring and rising frustration from some lenders who have gotten burned in negotiations.
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1 week ago | 
bloomberg.com | Reshmi Basu
JPMorgan Chase & Co. has been building a new business advising debt-laden companies, sometimes at the expense of boutique firms, taking advantage of a shift to out-of-court restructuring and rising frustration from some lenders who have gotten burned in negotiations. Over the past year, the Wall Street giant has gotten mandates to represent at least eight companies struggling with heavy debt loads, including Bausch Health and Sunnova Energy, according to people with knowledge of the deals.
