M&A in the retail sector is driving some companies to alter their loans. When Hudson's Bay Co. acquired Saks Inc. in November, it completed the deal with the help of a $2 billion term loan, a $300 million term loan and a $950 million asset-based loan. That type of deal, in a year when M&A was down, is exciting, says Joesph Nemia, head of asset-based lending for TD Bank. "I look at it as a positive sign for our business."

M&A in the consumer goods and retail sector increased in the third quarter of 2013, PricewaterhouseCoopers reported. For deals of more than $50 million, total transaction value increased 112 percent from the same quarter in 2012, according to PwC's U.S. retail and consumer deals insights report for the third quarter. For more, see last month's Mergers & Acquisitions cover story, "Boutique Appeal."

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