Saks in Talks for $600 Million of New Debt as Payment Nears (1)

Just as embattled Saks Global Enterprises faces the first interest payment on debt it incurred to buy rival Neiman Marcus Group, the company is looking to tap investors for even more funding.

The luxury retailer is in talks with some holders of its $2.2 billion in senior secured bonds about borrowing up to an additional $600 million from them, according to people familiar with the talks. The plans are in advanced stages but not yet final, said the people, who declined to be identified discussing private information.

The negotiations come after Saks last month reported an adjusted loss of more ...