AMERICAS DISTRESS DAILY: Saks Creditor Group Hires Adviser

A minority group of creditors holding about $600 million of Saks Global Enterprises’ $2.2 billion bond has tapped Greenhill & Co. as a financial adviser ahead of potential talks with the company over its debt stack.

• The move comes as Saks said in a statement Thursday that it has secured a $300 million first-in, last-out facility for the company and a $50 million secured term loan facility for certain subsidiaries.
• Saks’ $2.2 billion bond due in 2029 was trading at around 36 cents on the dollar as of Wednesday.

In Other News:

• EchoStar elected not to make an approximately $326 ...