Macy’s aims to raise US $1.1 billion


Macy’s aims to raise US $1.1 billion

Iconic US department store chain Macy’s is looking to raise US $1.1 bn to support it through the Covid-19 fall-out. The funds raised will be backed by a property bond subject to the retailer entering into a $3bn revolving credit facility.

Macy’s will still be proceeding with its prior announced closure of 125 of its stores and the cutting of around two thousand head office jobs.

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