- Bed, Bath & Beyond (NASDAQ:BBBY) is said to be in exclusive talks with asset manger Sixth Street Partners and is nearing final terms for a loan of nearly $400 million.
- Talks to finalize the loan documents are said to be ongoing, according to a WSJ report.
- The news comes after BBBY shares jumped 18% on Wednesday after the WSJ reported late Tuesday that Bed Bath had secured a loan. The New Jersey-based home goods retailer told prospective lenders on Tuesday that it has selected a lender to provide a loan after a marketing process conducted by JPMorgan.
- Earlier this week, Bloomberg reported that BBBY is consulting restructuring experts Kirkland & Ellis as legal help, with a focus on addressing the firm's debt loan.
- Bed, Bath & Beyond (BBBY) has been seeking around $375M to boost its cash levels and help pay down existing debt, the WSJ noted.
- BBBY shares have plunged 55% since Ryan Cohen's RC Ventures disclosed it reduced its stake in the retailer.
Bed, Bath & Beyond said near $400M loan from Sixth Street Partners
Recommended For You
About BBBYQ Stock
Related Stocks
Symbol | Last Price | % Chg |
---|---|---|
BBBYQ | - | - |
20230930-DK-Butterfly-1, Inc. |