That department store chain’s creditors were already concerned, even before Saks announced plans to raise more debt, as its notes that mature in 2029 had dropped by 40% in value in the space of five months. The report noted that Saks recently said it aims to raise as much as $350 million via a new loan, funds that will help the company maintain what CEO Marc Metrick called an “ample” liquidity cushion, even as it deals with future liabilities such as the first interest payment on its 2029 notes. “There’s a lot of discussion right now about the value of the current appraisals, how tariffs show up on invoices and how that flows through to when the goods are sold,” Pfeiffer said.
Author: PYMNTS
Published at: 2025-05-04 20:03:19
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