Bed Bath & Beyond gives up some of Wednesday's gains

Sixth Street Specialty Lending

25/08/2022 18:15

** Shares in Bed Bath & Beyond  BBBY.O  fall 8.1% to $9.52
after closing up nearly 19% on Wednesday
    ** BBBY is nearing final terms with investment firm Sixth
Street that would provide the embattled home goods chain a loan
of around $370 million, Reuters reported after markets closed on
Wednesday, citing a person familiar with the matter  urn:newsml:reuters.com:*:nL4N3003LC
    ** Bloomberg on Thursday reports https://www.bloomberg.com/news/articles/2022-08-25/bed-bath-beyond-s-grasp-for-cash-puts-baby-brand-on-the-line
 BBBY management is in exclusive talks with Sixth Street for a
new line of credit of around $375 million, which would be backed
by assets including its baby brand
    ** When contacted by Reuters, Sixth Street declined to
comment on the Bloomberg report, which cited people with
knowledge of the discussions; BBBY has not responded to a
request for comment
    ** BBBY has previously said it would explore shedding its
baby products division
    ** BBBY shares have shed a third of their value this year

 (Reporting by Praveen Paramasivam)
 ((Praveen.Paramasivam@thomsonreuters.com;))