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Financing Package

All articles tagged with #financing package

business9 hours ago•14 min saved

Saks Global enters Chapter 11 as new CEO reshapes leadership and lines up financing

Saks Global filed for Chapter 11 in the Southern District of Texas after a year of financial struggles tied to its merger; former Neiman Marcus CEO Geoffroy van Raemdonck has taken over as CEO and is spearheading a leadership overhaul, while the company secures a $1.75 billion financing package to support restructuring. Stores remain open, but the company plans to reject several leases and vendors face strained relationships, signaling a multi-year turnaround ahead.

via Retail Dive|

#business #chapter-11 #financing-package

finance2 years ago•0 min saved

IMF approves $15.6 billion loan for Ukraine.

The International Monetary Fund (IMF) has approved a four-year $15.6 billion financing package for Ukraine to help the country meet urgent funding needs as it continues to defend against Russia's invasion. This is Ukraine's biggest loan since Russia's full-scale invasion on Feb. 24, 2022, and the first major package approved by the IMF to a country involved in an active conflict. The loan is expected to help unleash large-scale financing for Ukraine from international donors and partners, including the World Bank and other lenders.

via Reuters|

#finance #financing-package #imf