Sears completes sale of $600 million in securities

Sears, Roebuck and Co., the nation's second-largest retailer, has completed the sale of $600 million of AAA-rated credit card-backed securities.

The debt, with an average maturity of five years, was priced at 18 basis points over one-month Libor.

Lead underwriter for the offering was Deutsche Banc Alex. Brown, with co-managers including Credit Suisse First Boston, Merrill Lynch & Co., Morgan Stanley Dean Witter and J.P. Morgan Chase.

Featured Video

  • 1200 Suppliers are Ready for You at Intertextile Shanghai

    Camera Icon More Videos

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.


HTT digital edition

See the June 2017 issue of Home & Textiles Today. In this issue, we discuss how U.S, ports are gearing up for the future, and what to expect from second half trade shows. See details!