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Sears Holdings pulls off debt moves

May 23, 2017 7:04 AM ETSears Holdings Corp. (SHLDQ) StockBy: Clark Schultz, SA News Editor68 Comments
  • Sears Holdings (SHLD) announces agreements to extend a portion of its $500M 2016 secured loan facility and annuitize $515M of its pension obligations.
  • The company says the actions will reduce the size of its debt and pension obligations, as well as future risk associated with liabilities.
  • Sears is targeting a reduction in outstanding debt and pension obligations of $1.5B for FY17 through improving profitability, asset sales and working capital management.
  • Source: Press Release

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