YOUR BUSINESS AUTHORITY

Springfield, MO

Log in Subscribe

Sears reaches agreements to reduce debt burden

Posted online
Embattled retail parent Sears Holdings Corp. today reached agreements to lower its debt burden.

The company agreed to extend part of its $500 million 2016 secured loan facility and annuitize $515 million of its pension obligations

"This action is expected to have an immaterial impact on the funded status of our total pension obligations, but will serve to reduce the size of the company's combined pension plan, future cost volatility and plan administrative expenses," company officials said in a statement.

Read more from MarketWatch Pulse.

[[In-content Ad]]

Comments

No comments on this story |
Please log in to add your comment
Editors' Pick
Open for Business: The Kebab Shack

The Kebab Shack opened; Hitch Goods launched; and The War Zone Springfield moved.

Most Read
Update cookies preferences