Sears to raise up to $625M through notes offering

Struggling retailer Sears Holdings Corpn said it would raise up to $625 million through a rights offering of 8 percent senior notes and attached warrants, in another effort to boost liquidity ahead of the crucial holiday shopping season.

The rights oferring comes on the heels of Sears announced it would raise up to $380 million by reducing its stake in Sears Canada to 12 percent from 51 percent.

The company also received a $400 million loan last month from ESL Investments, according to Reuters.

Read more from Reuters.