Sears lands new financing amid new round of closures

sears
By David Bell
10 Jan 2018

US retailer Sears has landed a $100m private secured term loan, with a potential further $200m to be secured against the collateral, after the firm announced a fresh batch of store closures that Morningstar said could cause trouble for 16 CMBS loans.

The retailer said on Wednesday that it had obtained the new $100m term loan facility, which is secured on ground leases and intellectual property, although the terms and lender or lenders were not disclosed. The firm said that it may look to raise an additional $200m against the ...

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