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Berkowitz, Lampert, Sears, Primark Stores and more
Sears stock price has recovered a bit, as has FAIRX.
In a separate announcement that sent Sears shares soaring 23 percent, the Chicago-based retailer said it will raise as much as $625 million through an offering of 8 percent senior notes and warrants, easing worries about the retailer’s balance sheet.
I wonder if 8% is enough to compensate investors who buy these senior notes for the risk that they are taking. Or is this the new normal in today's low interest rate environment?
Meh. 8% is not all that appealing, when there's any number of pfd's for healthier companies yielding 6-7% and offering lower risk. CHS pfd's yielding 6.75-7% and those barely budged that much in 2008.
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