Content about Debt Financing

April 26, 2013
Report: Goldman Sachs arranges $1.75 billion J.C. Penney loan

Goldman Sachs has put together a $1.75 billion financing package for J.C. Penney Co., with the loan backed by the retailer’s real estate and other assets, according to CNBC.

New York -- Goldman Sachs has put together a $1.75 billion financing package for J.C. Penney Co., with the loan backed by the retailer’s real estate and other assets, according to CNBC.

The news, which has not yet been confirmed by Penney, comes a day after investor George Soros reported a 7.9% stake in the company. Goldman also has not responded to a request for comment.

Earlier this month, Penney borrowed $850 million from its $1.85 billion revolving credit facility to boost its cash position and buy inventory.   

April 1, 2013
Walmart announces gasoline discount program

Walmart is easing the pain at the pump by offering customers who use a Walmart MoneyCard or Walmart Credit Card a 15 cents per gallon reduction on their fuel purchase.

Bentonville, Ark. -- Walmart is easing the pain at the pump by offering customers who use a Walmart MoneyCard or Walmart Credit Card a 15 cents per gallon reduction on their fuel purchase. Customers using a Walmart gift card will receive a 10 cent per gallon discount. Gas will be discounted at more than 1,000 Murphy USA and Walmart gas stations located at Walmart stores in 21 participating states.

March 13, 2013
U.S. Bank closes on $46 million loan for Pier Park North

Columbus, Ohio-based Casto said that its JV partners The St. Joe Co. and Strategic Retail Advisors, along with U.S. Bank, have closed on a $46 million construction loan that will finance The Pier Park North Shopping Center, a 360,000-sq.-ft. shopping center in Panama City Beach, Fla.

Panama City Beach, Fla. -- Columbus, Ohio-based Casto said that its JV partners The St. Joe Co. and Strategic Retail Advisors, along with U.S. Bank, have closed on a $46 million construction loan that will finance The Pier Park North Shopping Center, a 360,000-sq.-ft. shopping center in Panama City Beach, Fla.

February 27, 2012
Sears to close six stores in Illinois, months after getting tax credit

Two months after Sears Holdings Corp. received a $150 million Illinois tax credit for cementing its plans to keep its home base in the state, it announced Monday that it would close six stores in Illinois.

Hoffman Estates, Ill. -- Two months after Sears Holdings Corp. received a $150 million Illinois tax credit for cementing its plans to keep its home base in the state, it announced Monday that it would close six stores in Illinois.

The retailer had already announced in December – two weeks after the tax credit – that it would close 100 to 120 stores, but no Illinois stores were on the initial list.

November 1, 2011
Stein Mart completes new bank credit facility

Stein Mart said it has completed a new $100 million senior secured revolving credit facility with Wells Fargo Bank, N.A. to replace an existing $150 million revolving credit facility, which was maturing in early 2012.

Jacksonville, Fla. -- Stein Mart said Monday it has completed a new $100 million senior secured revolving credit facility with Wells Fargo Bank, N.A. to replace an existing $150 million revolving credit facility, which was maturing in early 2012.

The new facility can be increased to $150 million and matures in February 2017. The revolving credit is for general corporate purposes, including issuing standby and commercial letters of credit, and provides an additional source of liquidity, according to Stein Mart.

October 14, 2011
Target refinances credit agreement

Target Corp. secured a new $2.25 billion unsecured credit facility, the retailer disclosed in a filing with the Securities and Exchange Commission.

New York City -- Target Corp. secured a new $2.25 billion unsecured credit facility, the retailer disclosed Friday in a filing with the Securities and Exchange Commission.

Target could borrow up to as much as $500 million under the credit agreement. The agreement with Bank of American and Citibank will expire in October of 2016 unless it is extended.

The current facility replaces a prior $2 billion credit agreement.
 

October 13, 2011
Edens & Avant announces refinancing of unsecured revolving credit facilities

Edens & Avant announced that it has closed on the refinancing of its $350 million unsecured revolving credit facility and $30 million unsecured working capital line.

Columbia, S.C. -- Edens & Avant announced Tuesday that it has closed on the refinancing of its $350 million unsecured revolving credit facility and $30 million unsecured working capital line.

Both will mature in September 2014, but include two, one-year extensions that could extend both facilities through September 2016.

March 11, 2011
Wing Park Shopping Center

Tarrytown, N.Y.-based DLC Management Corp. has launched the redevelopment of Wing Park Shopping Center in Elgin, Ill.

Tarrytown, N.Y.-based DLC Management Corp. has launched the redevelopment of Wing Park Shopping Center in Elgin, Ill.

DLC has pre-leased the redevelopment to a pair of anchor tenants: Walgreens has signed a 75-year lease for a 14,820-sq.-ft. prototypical store with drive-through that will be built to suit, and the existing Family Dollar will be relocating and expanding into an 8,400-sq.-ft. space. The overall redevelopment is 80% pre-leased.

January 28, 2011
Borders receives refinancing commitment from GE Capital

Borders Group said it has received a commitment from GE Capital, Restructuring Finance to provide a $550 million senior secured credit facility.

Ann Arbor, Mich. -- Borders Group said it has received a commitment from GE Capital, Restructuring Finance to provide a $550 million senior secured credit facility. Upon completion, the facility, including the obtaining of $125 million of additional junior debt financing via the conversion of vendor payables and/or external sources, will provide Borders with the financial flexibility and an appropriate level of liquidity to move forward with its strategy to reposition its business model and the Borders brand.

January 5, 2011
Bond No. 9 to open in Meatpacking District

Prudential Douglas Elliman's Retail Group said that it has arranged another location for Bond No. 9, this time in Meatpacking at 863 Washington Street, between 13th and 14th Streets, near the edge of the High Line.

New York City -- Prudential Douglas Elliman's Retail Group said that it has arranged another location for Bond No. 9, this time in Meatpacking at 863 Washington Street, between 13th and 14th Streets, near the edge of the High Line.

The new store represents the fifth New York City location orchestrated by Prudential Douglas Elliman for the fragrance retailer.

October 20, 2010
CBL partners with Horizon Group Properties to develop Outlet Shoppes at Oklahoma City

Chattanooga, Tenn.-based CBL & Associates Properties said it has formed a joint venture with Norton...

September 30, 2010
Sears to offer $1.25 billion in notes privately

Sears Holdings Corp. said Thursday that it will sell $1.25 billion of its senior secured...

September 27, 2010
Sears plans to offer $500 million in notes

Sears Holdings Corp., owner of the Sears and Kmart retail chains, said Tuesday it plans...

September 12, 2010
Jones Lang LaSalle secures $18.5M refinancing for S.C., center

Chicago-based Jones Lang LaSalle announced it has secured $18.5 million in refinancing capital for Centro...

August 8, 2010
Rite Aid plans debt offering

Rite Aid Corp. said Monday it plans to sell $650 million in new debt and...

May 24, 2010
J.C. Penney buys back $300M in debt

J.C. Penney Co. has completed the buyback of $300 million in debt....

October 18, 2009
Rite Aid moves to finish refinancing 2010 debts

Rite Aid Corp. said Monday it has moved closer to refinancing the rest of its...

August 4, 2009
Hilco, Infinity Brands provide term loan financing to Frederick’s of Hollywood

Hilco Consumer Capital, through its Hilco Brands unit, and in partnership with Infinity FS Brands,...

November 24, 2008
Chico’s 3Q Profits Dive; Signs $55 Million Credit Deal

Chico's FAS Inc. said Tuesday its third-quarter profit plunged as a weak economy hurt sales....

November 16, 2008
Charming Shoppes Completes Sale of Catalog Credit Receivables

Charming Shoppes Monday announced the completion of the sale of its misses catalog credit receivables...

September 23, 2008
Gottschalks Grabs $30M Investment

Gottschalks Inc. has signed a letter of intent for a $30 million investment in the...

June 19, 2008
Mothers Work Prepays $8 Million of Term Loan Debt

Mothers Work announced that it has prepaid $8 million of its senior secured Term Loan...

June 18, 2008
Circuit City 1Q Loss Widens

Circuit City Stores Inc. said Thursday its loss widened in the first quarter because of...

May 18, 2008
Staples Launches Hostile Bid for Corporate Express

Staples Inc. on Monday launched a hostile 1.5 billion euro ($2.34 billion) bid for Corporate...

April 20, 2008
Bank of America Won’t Renew Sears Credit Agreement

Sears Holdings Corp said in a filing with the Securities and Exchange Commission on Friday...