Report: Neiman-Marcus, Hudson’s Bay Company seek loans

Dallas – Neiman-Marcus Group Inc. and Hudson’s Bay Company (HBC) are reportedly seeking loans to support merger and acquisition activity.

According to Bloomberg, Neiman-Marcus is trying to secure $3.75 billion in loans to support its planned buyout by Ares Management LLC and the Canada Pension Plan Investment Board. That figure reportedly includes a $2.95 billion term loan and an $800 million asset-backed loan.

Meanwhile, HBC is reportedly now seeking $2.3 billion in loans to support its purchase of Saks Inc., up from the $1.9 billion it previously sought.

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