Saks.com Secures Additional Liquidity [Yahoo! Finance]
Bank of America Corporation (BAC)
Last bank of america corporation earnings: 4/15 06:45 am
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Source: Yahoo! Finance
The syndicate is led by Pathlight and Bank of America. More from WWD Thom Browne Hosts Dinner at Mr. Chow to Celebrate Saks Beverly Hills Women's Collaboration Thom Browne Is in an L.A. State of Mind How Internet Economics Brought Down Matches and Farfetch “As expected, Saks has closed a transaction with Pathlight Capital and Bank of America, securing up to $60 million in incremental liquidity while maintaining our low debt levels,” a Saks.com spokesperson told WWD on Monday. “The additional capital enhances our financial position as we continue to navigate the challenging macro-environment. As longtime financing partners to Saks, we are grateful for Pathlight and Bank of America's continued confidence in our business.” The investment will help Saks.com buy and sell goods, and meet past obligations to vendors. Specifically, Saks has expanded its term loan facility with Pathlight, bringing the total borrowings under the facility to $215 million, reflecting what the company
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