Neiman Marcus debt dented by PetSmart-style move

US department store Neiman Marcus’s unsecured bonds and term loan have dipped in trading this week after the company said it was moving its fastest growing online business, MyTheresa, out of the reach of lenders.

  • By David Bell
  • 20 Sep 2018

The move is similar to those undertaken by other high yield borrowers such as J.Crew and PetSmart more recently, which move collateral in unrestricted subsidiaries out of the reach of bond and loan investors.

MyTheresa is an online retailer for women’s luxury fashion founded in Munich in ...

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