From Yahoo Finance: 2025-06-27 16:49:00

Saks Global Enterprises has secured a $600 million debt deal with existing lenders, including a $300 million loan from majority bond holders. Lenders not in this group can offer an additional $300 million through a debt exchange. Those who don’t participate will see their debt fall to the bottom of Saks’ capital structure. The majority holders will bridge any shortfall in the second $300 million. Saks plans to make its upcoming interest payment of about $120 million due June 30. The new bonds come with stronger creditor protections and the company expects $750-$800 million EBITDA this year and up to $975 million next year.



Read more at Yahoo Finance: Saks Gets $600 Million Lifeline as Creditors Face Steep Losses