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Sears Inks $200M Credit Line From CEO Eddie Lampert's Hedge Fund

by cnbc.com posted 1year ago 360 views
Sears Holdings has landed a fresh line of credit, valued at $200 million, from its CEO Eddie Lampert's hedge fund, according to a Monday filing with the Securities and Exchange Commission. On July 13, Lampert's ESL Partners entered into a short-term line of credit loans, which carry a maturity date of 151 days and a fixed interest rate of 9.75 percent per year, Sears said. "This facility is intended to provide the Company with the flexibility to generate additional liquidity on an as-needed basis," Sears CFO Rob Riecker said in a statement. "This adjustment to our capital structure demonstrates that...

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