Hudson's Bay plans $1.25 bln refinancing to trim debt: Reuters

Canadian department store operator Hudson's Bay Co outlined a US$1.25 billion refinancing plan on Monday, in a move to reduce debt taken on when it acquired U.S. rival Saks last year, Reuters reported. The retailer said it would take out a 20-year mortgage on the ground portion of its flagship Saks Fifth Avenue store in New York City. HBC was acquired by NRDC Equity Partners in 2008 and went public in late 2012.

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