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Macy’s and Under Armour Raise Funds to Pay Off COVID-19 Debts

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Macy’s and Under Armour are raising money to pay down debt accumulated to ride out the pandemic. On Tuesday, the department store retailer announced the private placement of $1.1 billion aggregate principal amount of senior secured notes due 2025. Macy’s, which saw preliminary first-quarter sales plummet 45.5 percent, said it intends to use the net…

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