https://www.sec.gov/Archives/edgar/data/1310067/000119312518265560/d610684d8k.htm
18 replies (most recent on top)
No, it's NOT going to "be around for a while." The people who work there know this. All the reputable financial analysts know this. The only people who haven't figured this out are some id--ts on this board.
Everybody needs to chill. This company is going to be around for awhile.
Terms are not particularly good. definitely not as good as it looks on the surface. Effectively it is a 9% loan split into a 2.75% fee paid upfront and 6.5% interest.
UBS does own some seritage. Not alot but some.
UBS borrowed them the money now there will be cash on hand for financial disclosures and 12 previously protected properties that'll go through the seritage process as fast as possible to "protect" them from those greedy retirees and their and their damn water bills
Oh my!! Such dismal doubters.
Just goes to show it's not over yet. Transistion is working.
So 113 million to wind down operations on
$81 mil would last for approximately 20 or 21 days.
https://imgur.com/gallery/2kWGJ
it's less than 113 since 32 of it had to go to the pension
$113 mil will last for about 28 or 29 days at most.
How many days can Sears survive with 113 million loan?
How many rabbits does Sears have in their hat? They always come up with something. It's ok, they are just adding more debt that they can't pay
And the insanity continues. What a bunch of id--ts.
Took an additional 113 million loan with a creditor. In exchange for the increased loan amount, interest rate was increased in the future.
Pension to get minimal requirement funding of ~35 million and in exchange release/drop security they had on several sears properties.
He probably needed the money to make payroll last Friday and stay below is cap line max with the first lien lenders. The 32M pension escrow payment is even more interesting, not sure what the strategy is there.
Can someone explain this.