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A $2.2 billion junk bond deal financing the acquisition of luxury retailer Neiman Marcus Group by the owner of Saks Fifth Avenue Inc. saw strong demand as investors flock to high-yielding deals in the credit market.
The company boosted the size of the five-year bond offering by about $200 million and it got twice as many orders than there were bonds for sale, according to people with knowledge of the sale who asked not to be identified discussing private details. The yield on the sale was 11…
