Author Topic: SHLD - Sears  (Read 2274250 times)

jrydaf

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Re: SHLD - Sears
« Reply #9100 on: November 30, 2017, 06:51:42 PM »
Looks like they withdrew that consent solicitation:
"Subsequent to the end of our third quarter, we commenced a consent solicitation to amend the borrowing base definition in the indenture. We subsequently terminated the consent solicitation prior to its scheduled expiration. "

They also said their debt exceeded the borrowing base at quarter end:
"As of October 28, 2017, our borrowing base was below the above threshold, and if our borrowing base is below the above threshold at the end of our fiscal year, it will trigger an obligation to repurchase or repay second lien debt, in an amount equal to the excess of our funded debt secured by liens on our inventory as of year-end over the borrowing base. If we fail to make such repurchase or repayment, we would be in violation of our covenants under our Second Lien Credit Agreement. "





BeerBBQ

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Re: SHLD - Sears
« Reply #9101 on: December 01, 2017, 06:31:08 AM »
Is that language related to the term loans, the 6 5/8 debt or both?

BeerBBQ

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Re: SHLD - Sears
« Reply #9102 on: December 04, 2017, 07:49:29 AM »
Anybody buying the 2018 6 5/8 debt here?

Looks they are trying to extend the maturity of the 2018 term loan that matures in June.  I think all of the other debt that matures in front of the 6 5/8 notes is basically the loans controlled by Lampert and backed by real estate.  Why wouldn't those loans get refinanced/maturities extended/paid off with real estate sales and clear pathway for the $300M of notes to get paid in October?

sampr01

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Re: SHLD - Sears
« Reply #9103 on: December 04, 2017, 08:28:57 AM »
Few 18 and lot of 19's..

Anybody buying the 2018 6 5/8 debt here?

Looks they are trying to extend the maturity of the 2018 term loan that matures in June.  I think all of the other debt that matures in front of the 6 5/8 notes is basically the loans controlled by Lampert and backed by real estate.  Why wouldn't those loans get refinanced/maturities extended/paid off with real estate sales and clear pathway for the $300M of notes to get paid in October?

doughishere

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Re: SHLD - Sears
« Reply #9104 on: December 07, 2017, 08:57:23 AM »
https://www.reuters.com/article/us-sears-memento/sears-investor-urges-company-to-explore-going-private-idUSKBN1E11QT

I think a cobf member was just advertising a job for the same firm. If I'm not mistaken.


Anyone know how the Spadones made their money?
« Last Edit: December 07, 2017, 08:58:54 AM by doughishere »

frugalchief

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