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The company said in a regulatory filing it does not have sufficient resources to repay the amounts under the credit facilities, adding it will consider all strategic alternatives, including restructuring its debt under the U.S. Bankruptcy Code. The bank has determined to exercise rights such that all outstanding loans under credit facilities and other obligations of Bed Bath & Beyond under its amended credit agreement are due and payable immediately, according to the filing. The retailer's outstanding borrowings under an asset-backed loan and first-in-last-out loan (FILO) were $550 million and $375 million, respectively, as of Nov. 26.
MILAN (Reuters) -JPMorgan Chase & Co has written to Italy's top soccer league to express a preliminary interest in supporting the development of Serie A's media business, three people close to the matter said. The sources said the 20 clubs which comprise Serie A were informed of the interest by the U.S. bank at a closed-door meeting of their top executives on Thursday. JPMorgan is expected to be able to provide between 700 million ($761 million) and 1 billion euros in bank financing, one of the people said speaking on condition of anonymity because discussions are not public.