HBC intends to repay $436 million term loan in full

By Rebecca Melvin

New York, June 10 – HBC plans to repay its $436 million term loan in full using a portion of proceeds from asset sales, according to a company release.

The company has entered into definitive agreements to sell the company’s remaining stake in its German real estate joint venture and divest its related retail joint venture to partner Signa, along with assumption of certain obligations for a total consideration of $1.5 billion.

J.P. Morgan Securities LLC acted as financial adviser to HBC on the transaction that is expected to close in fall 2019, subject to regulatory approvals.

HBC is a diversified retailer based in Brampton, Ont.

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