Deals
Sears Plans Debt as September Junk Sales Surge: New Issue Alert
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Sears Holdings Corp., the largest U.S. department-store company, is marketing debt as the number of high-yield issuers in September jumps to a five-month high.
The retailer plans to sell $500 million of notes due in 2018, it said in a Sept. 28 statement distributed by PR Newswire. Hoffman Estates, Illinois-based Sears may use proceeds to repay a senior secured revolving loan, for working capital requirements of its retail businesses and for general corporate purposes, according to the statement.