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Bond Market News
Nordstrom’s Bonds Rally on Reports of Going Private
March 20, 2024
US retailer Nordstrom’s bonds soared by over 5 points after reports claiming that its founding family is planning to take the company private. This comes six years after a similar attempt by the retaliler had failed. Sources reported that Nordstrom has approached Morgan Stanley and Centerview Partners to reach out to private equity firms and gauge their interest for a potential deal. While no agreement has been reached, the news comes along the lines of US retailers including Macy’s, that are planning to go private as consumer discretionary spending has been curtailed due to higher inflation and interest rates.
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