Neiman Seeking $3.75 Billion of Loans; Hudson’s Bay Boosts Debt

Neiman Marcus Headquarters Dallas | Source: Neiman Marcus

NEW YORK, United States — Neiman Marcus Group Inc. is seeking $3.75 billion in loans to back its buyout by Ares Management LLC and the Canada Pension Plan Investment Board, while Hudson’s Bay Co. increased the size of the bank debt it’s seeking to purchase Saks Inc.

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Neiman Marcus’s New Buyers Face Tough Luxury Retail Environment

Neiman Marcus Store Walnut Creek | Source: Flickr

NEW YORK, United States — Neiman Marcus Inc.’s new private-equity owners are buying a luxury chain that’s in danger of running out of room to expand in the U.S. as even well-heeled shoppers pull back. Ares Management LLC and the Canada Pension Plan Investment Board agreed today to buy the U.S. department store company from TPG Capital and Warburg Pincus LLC for $6 billion.

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