BusinessWeek – Sears Holdings Corp. is bypassing barriers to junk-rated companies in the $1.1 trillion commercial-paper market by selling the debt to its largest stockholders, including Chairman Edward Lampert. Lampert and his hedge fund, ESL Investments Inc., bought $150 million of 30-day commercial paper from a Sears subsidiary in March, the Hoffman Estates, Illinois-based retailer disclosed in its annual proxy filed April 6.
Lampert’s Hedge Fund Buys Junk-Rated Paper From Lampert’s Sears
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