Canada NewsWire
TORONTO, March 21, 2017
TORONTO, March 21, 2017 /CNW/ - Sears Canada Inc. (TSX: SCC;
NASDAQ: SRSC) (the "Corporation") announced today that it has entered into a Credit Agreement with KKR Capital Markets LLC and
GACP Finance Co., LLC as Joint Lead Arrangers for a five-year secured term loan of up to $300
million. The loan is available in two tranches. The first tranche of $125
million has been drawn in full today. A second delayed-draw tranche of up to an additional $175 million may be drawn at the Corporation's option, depending on mutually agreed assets being contributed to
the borrowing base. The loan will be available for general corporate purposes.
About Sears Canada
Sears Canada is a multi-channel retailer with a network that includes 140 corporate
stores, 71 Hometown stores, over 900 catalogue and online merchandise pick-up locations, 69 Sears Travel offices and a nationwide
repair and service network. The Company also publishes Canada's most extensive general
merchandise catalogue and offers shopping online at www.sears.ca.
SOURCE Sears Canada Inc.
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