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Sears lands $200M credit line from CEO Lampert's hedge fund; shares +9%

Published 07/17/2017, 11:01 AM
© Reuters.  Sears lands $200M credit line from CEO Lampert's hedge fund; shares +9%
SHLDQ
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  • Sears (SHLD +8.6%) surges nearly 10% after disclosing it obtained a new $200M line of credit from CEO Eddie Lampert's hedge fund.
  • Lampert's ESL Partners entered into a short-term line of credit loans, which carry a maturity date of 151 days and a 9.75% fixed annual interest rate.
  • Cash injections from Lampert's hedge fund and his heavy ownership of the company's unsecured debt continue to convince some investors that SHLD will avoid filing Chapter 11.
  • Now read: Sears Holdings: The Downward Spiral Continues


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