Sears Gets Go-Ahead For $90M Internal Debt Sale

By Rick Archer (November 19, 2018, 6:48 PM EST) -- A New York bankruptcy court judge on Monday gave Sears permission to sell $900 million in internal debt after the retail giant and an objecting creditor said they had settled their differences about the proposal.

Sears and Cyrus Capital Partners told U.S. Bankruptcy Court Robert Drain that after Cyrus raised its objection at a hearing last week they had agreed on a slightly amended order to sell the intercompany medium-term notes to take advantage of an upcoming auction connected to the company's credit default swaps.

Once one of the nation's largest retailers, Illinois-based Sears entered bankruptcy in October to reshape its...

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