Author Topic: SHLD - Sears  (Read 2561606 times)

BTShine

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Re: SHLD - Sears
« Reply #9110 on: January 07, 2018, 01:51:15 PM »
Did they sell 30,000 and keep 120,000?


Greyhound

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Re: SHLD - Sears
« Reply #9111 on: January 07, 2018, 05:53:36 PM »
Based on that report, that's probably what happened!

Take away, there's still lots more value to be unlocked from that location!

BeerBBQ

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Re: SHLD - Sears
« Reply #9112 on: January 10, 2018, 06:12:07 AM »
As it relates to the 2018 senior secured notes maturing in October, the 3Q 10-q states "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. "

The implication is that they did not get consent for the amendment?

So, anyone know how these notes were amended as stated in the release today?

https://finance.yahoo.com/news/sears-holdings-announces-plan-enhance-120000554.html

Can they just amend unilaterally? How does this work?








Eye4Valu

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Re: SHLD - Sears
« Reply #9113 on: January 10, 2018, 08:31:15 AM »
As it relates to the 2018 senior secured notes maturing in October, the 3Q 10-q states "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. "

The implication is that they did not get consent for the amendment?

So, anyone know how these notes were amended as stated in the release today?

https://finance.yahoo.com/news/sears-holdings-announces-plan-enhance-120000554.html

Can they just amend unilaterally? How does this work?

It would depend on the terms of the Bond Indenture I would think.

sampr01

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Re: SHLD - Sears
« Reply #9114 on: January 13, 2018, 08:04:21 AM »
As it relates to the 2018 senior secured notes maturing in October, the 3Q 10-q states "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. "

The implication is that they did not get consent for the amendment?

So, anyone know how these notes were amended as stated in the release today?

https://finance.yahoo.com/news/sears-holdings-announces-plan-enhance-120000554.html

Can they just amend unilaterally? How does this work?

There was a second solicitation process to extend the maturity which was over subscribed

please can you provide more details. I have few 18 notes but didn't receive any consent proposals. Thanks

BeerBBQ

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Re: SHLD - Sears
« Reply #9115 on: January 14, 2018, 03:53:42 PM »
I didn't see a second consent solicitation either

jrydaf

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Re: SHLD - Sears
« Reply #9116 on: January 15, 2018, 10:38:26 AM »
The recent filing says they did receive the required majority consent to amend the notes.  They were already at 48% when the first solicitation went out, which must have come from institutional investors. I'm guessing they privately received 50% consent from institutions without needing to send a second solicitation to retail investors. 

Does anyone know who owns this debt? Berkowitz and Lampert don't own much, and their consent wouldn't count anyway since they are affiliated with the company.

Marve2013

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Re: SHLD - Sears
« Reply #9117 on: January 24, 2018, 07:54:00 AM »
Is anyone experiencing difficulty getting onto the shopyourway website?  Thanks

Eye4Valu

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Re: SHLD - Sears
« Reply #9118 on: January 24, 2018, 08:14:00 AM »
 I recently went to my local Sears and purchased a new washer and dryer. The store wasn't run down, the salesperson was very helpful, the installation was professional, and the new washer and dryer (Kenmore Elite) work great. It was nothing but a positive experience. I would purchase from Sears again.

moneyball

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Re: SHLD - Sears
« Reply #9119 on: January 24, 2018, 09:49:54 AM »
I recently went to my local Sears and purchased a new washer and dryer. The store wasn't run down, the salesperson was very helpful, the installation was professional, and the new washer and dryer (Kenmore Elite) work great. It was nothing but a positive experience. I would purchase from Sears again.

Wow I didnít know Eddie himself frequents this site!