CNBC notes that "Macy's is taking extreme.....>

BONDS: CNBC notes that "Macy's is taking extreme measures to avoid dire outcomes

like bankruptcy, and will try to raise billions in debt to weather the pandemic

crisis, according to people familiar with the matter. The country's largest

department store is looking at raising as much as $5 billion in debt, the people

said. It will seek to use its inventory as collateral to raise $3 billion and

real estate to raise $1 billion to $2 billion, they said. It is not planning to

pledge its prime Herald Square location in New York as part of the deal, one of

the people said. The retailer earlier this year retained investment bank Lazard

to help shore up its balance sheet. The people stressed that bankruptcy is not a

focus for Macy's at this time. But the decision to take on billions in debt for

the historically financially conservative company is a sign of the pressure it

is facing as its stores have been forced shut and revenue has run dry."