Monday, April 17, 2017

Facing tough financial call, Neiman Marcus decides to make interest payments with more debt

Image result for neiman marcus storeNeiman Marcus said it will make interest payments over the next six months with new debt to preserve its cash and bank line of credit.

The Dallas-based luxury retailer said in a filing on Friday that instead of making a current $29 million cash interest payment on $600 million notes due in 2021, it will issue more bonds to holders to cover the 9.5 percent interest.. . . more

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