Daily News: July 31, 2013

Hudson’s Secures $1.9B in Commitments from BofA, RBC

Bloomberg reported that Bank of America and Royal Bank of Canada provided $1.9 billion in term loans to finance Hudson’s Bay’s previously announced acquisition of Saks, citing regulatory filings.

In addition, the article noted, the banks committed a $900 million unsecured bridge portion. According to Bloomberg, the credit agreement also includes a $950 million revolver and a $731 million revolver.

To read the entire Bloomberg story, click here.

Previously on abfjournal.com: BofA Merrill, RBC Support Saks Sale to HBC, July 29, 2013