Sears to offer $665 million in notes
Sears Holdings (Nasdaq: SHLD), owner of the Sears and Kmart retail chains, said it plans to privately offer $500 million in senior secured notes due 2018.
At the same time, it expects to offer $165 million in notes to its domestic pension plan in a private placement.
The company said the net proceeds will be used to repay debt, fund working capital, capital expenditures and general corporate purposes, including share buybacks and pension funding obligations.
–Compiled by Wendy Geister
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