Macy’s puts stores up as collateral in $1.1B bond deal
May 27, 2020
Macy’s has put department stores in Brooklyn, Chicago and San Francisco along with 35 locations in shopping malls and 10 distribution centers up as collateral in a $1.1 billion bond deal. The department store operator estimated the value of the properties at $2.2 billion, more than the retailer’s market capitalization of $1.6 billion.
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