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Saks to repay revolving facility borrowings with proceeds from convertibles offering
By Sara Rosenberg
New York, May 19 - Saks Inc. plans to pay down amounts outstanding under its revolving credit facility using proceeds from the sale of $80 million of convertible notes, according to a news release.
Remaining proceeds will be used for general corporate purposes.
Saks is a New York-based operator of fashion retail stores.
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