January 4, 2017 / 2:30 PM / 7 months ago

BRIEF-Sears Holdings obtains $500 million secured loan facility

Jan 4 (Reuters) - Sears Holdings Corp :

* Sears Holdings obtains $500 million secured loan facility

* Sears Holdings Corp - entered into a $500 million committed secured loan facility maturing in July 2020

* $321 million was funded under loan facility on Jan 4 and up to an additional $179 million may be drawn by borrowers in future

* Sears Holdings Corp - entities affiliated with ESL Investments Inc are lenders under loan facility

* Sears Holdings Corp - loan facility is secured by mortgages on 46 real properties owned by company's subsidiaries

* Sears Holdings Corp - loan facility will be secured by additional real properties if remaining $179 million loan commitment is drawn

* Sears Holdings Corp -facility intended to provide co with liquidity to fund operations while initiates process to market, sell portfolio of real estate assets

* Sears Holdings Corp - loan facility bears interest at a rate of 8% per annum and is guaranteed by company. Source text for Eikon: Further company coverage:

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