Update: BofA Retained to Arrange Lands’ End ABL Facilities
In a news release, Sears Holdings said it completed its separation of the Lands’ End business and received a $500 million dividend. Lands’ End also entered into a $175 million ABL and a $515 million term loan and indicated in a related 10-K filing that Bank of America was retained to assist in arranging a syndicate of institutional lenders to provide the facilities.