Sears Canada tightens credit facility size

|About: Sears Holdings Corporation (SHLD)|By:, SA News Editor

Sears Holdings (SHLD +6.6%) lowered the size of a credit facility for Sears Canada to $300M in order to cut borrowing costs.

The business was paying fees for the unused portion of the borrowing line.

Sears Canada has been raising cash by selling off leases - primarily from attractive urban locations.