Saks Global, parent company of Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman, has secured $600 million in committed financing from a majority of its existing bondholders. The exchange transaction includes a $400 million First-In, Last-Out (FILO) asset-based credit facility, with $300 million funded today and an additional $100 million upon completion of the bond exchange.
The transaction also includes $200 million in additional commitments subject to the satisfaction of certain conditions. Saks Global is entering into this transaction in lieu of financing commitments with SLR Credit Solutions that the retailer announced last month.
“Today’s announcement reflects the outcome of productive engagement with our bondholders and their continued confidence in our business and strategic direction,” said Mark Metrick, CEO of Saks Global Operating Group in a statement. “This comprehensive financing package meaningfully enhances our liquidity and strengthens our balance sheet. Coupled with the early realization of synergies and improving inventory position, we are primed to execute on our transformation strategy, invest in key growth initiatives and reinforce our leadership as the world’s largest multi-brand luxury retailer.”
Some of the synergies Metrick alluded to are already being seen: in June 2025 Saks Global expanded its use of the NuORDER by Lightspeed assortment planning platform to Neiman Marcus and Bergdorf Goodman users, joining Saks Fifth Avenue users of the solution.
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