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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