Saks Mulls Raising Up to $350 Million in New Debt, CEO Says (1)

Saks Global Enterprises is considering raising up to $350 million in debt as well as selling some its real estate assets to shore up its finances as stock-market volatility and China tariffs threaten to slow luxury spending.

The fresh debt would come through a so-called first-in, last-out loan under its existing $1.8 billion revolving credit facility, Chief Executive Officer Marc Metricksaid.

“We’re in the early days of the process now but we’re not looking at this being a long process,” Metrick told Bloomberg News in an interview.

Metrick said Saks had between $360 million to $400 million in liquidity, ...