Kohl’s Taps Bond Market to Refinance Amid Leadership Turbulence

Kohl’s Corp.is planning a high-yield debt sale as the beleaguered retailer tackles a fast-approaching bond maturity.

The company, which is currently looking for a new chief executive officer, plans to sell about $360 million of junk bonds to raise cash to refinance debt coming due this year, according to a statement on Tuesday. The five-year secured bond offering will provide the retailer with additional capital to refinance borrowings under its revolving credit facility, Kohl’s said, and it expects to borrow under the facility to repay all of its 4.25% notes due in July.

Members of Kohl’s management team will ...