By  on January 4, 1994

NEW YORK — For Federated Department Stores, the purchase of 50 percent of Prudential’s claim against R.H. Macy & Co. has little downside risk, according to analysts.

The Prudential loan pays interest of 12 percent a year and is secured by mortgages on 70 Macy stores. This puts it at the top of the heap of claims against the chain and the loan should be repaid in full before bank creditors, trade creditors or bond holders get anything.

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