ESL Proposes Buying Kenmore, Sears Home Improvement Biz

Sears Holdings’ board of directors received a letter from ESL Investments, the hedge fund led by the company’s Chairman and CEO Edward Lampert, proposing to buy the company’s Kenmore appliance division, Sears Home Services and PartsDirect.

JPP Agents Sears Term Loan Amendment

JPP acted as both administrative and collateral agent on an amendment to Sears Holdings’ second lien credit agreement.

JPP Agents $100MM Term Loan for Sears

Sears Holdings has raised $100 million in new financing and is pursuing an additional $200 million. JPP, an affiliate of Sears Chairman Edward Lampert’s hedge fund, ESL Investments,, has agented a $100 million term loan for the ailing retailer.

BofA Extends Sears $400MM Term Loan; USB Advises on New Facility

Sears Holdings entered into an agreement to extend the maturity of its existing term loan to January 2019, with the option to further extend the maturity to July 2019. The company also expects to close a new $600 million secured credit facility, advised by UBS Investment Bank.

Sears Borrows $100MM from CEO’s Hedge Fund, Can Borrow $100MM More

Sears Holdings amended its loan agreement with lenders controlled by CEO Edward Lampert to borrow an additional $100 million with the understanding it can borrow $100 million more prior to December 1, 2017.

Sears Releases Restructuring Update, Pursues Transformation

Sears Holdings Chairman and CEO Edward Lampert said the struggling retailer has improved operating performance and financial flexibility and will continue to work towards a successful restructuring.

Sears Outlines Next Phase of Its Strategic Transformation

Sears Holdings noted improvement in operating performance for Q4/16 and outlined important actions to drive profitability.

Stanley to Purchase Craftsman Brand From Sears For $900MM

Stanley Black & Decker will purchase the Craftsman brand from Sears Holdings in a transaction valued at approximately $900 million.

Sears Holdings Obtains $500MM Secured Loan Facility

Certain Sears Holdings subsidiaries entered into a $500 million committed secured loan facility provided by entities affiliated with ESL Investments, an entity controlled by Sears’ chairman and CEO.

Sears Obtains $500MM Secured Loan Facility, Closes $750MM Term Loan

Sears Holdings entered into a $500 million committed secured loan facility with ESL Investments and Cascade Investment. The facility together with the closing of a $750 term loan provides $1.25 billion of committed financing.