Gap Floating $2.25 Billion in New Debt Financing
Gap Floating $2.25 Billion in New Debt Financing 1Struggling retailer Gap (NYSE:GPS) is raising $2.25 billion by issuing new debt, the company announced Thursday. This will come from three senior secured notes. The first has an aggregate principal amount of $500 million, an annual interest rate of 8.375%, and matures in 2023. The second is a $750 million issue bearing a rate of 8.625% and …
News story posted on 2020-04-25T05:59:00.0000000Z