JPP Agents $300MM 2nd Lien Term Loan for Sears

Sears Holdings and Kmart entered into a second lien credit agreement which allowed Sears to borrow $300 million in term loans. JPP served as administrative agent and collateral administrator for the transaction.

Sears Needs 10 Times Lampert Loan to Survive

Bloomberg reported Eddie Lampert’s $400 million loan to Sears Holdings is enough to keep the retailer going for three months, but it will need 10 times that capital to survive beyond then.