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Sears wins loan extension, new credit line tied to real estate

Sears paid down $325 million on an existing loan in the fourth quarter and won an extension on the maturity date for the remaining $400 million until January 2019, the retailer said in regulatory filings. The company has also secured a $607 million credit facility which is secured by 138 properties that Sears will eventually sell to repay the loan. Read the Chicago Tribune story here

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