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Sears Gets $4 Billion Credit Line

Staff -- TWICE, 1/17/2005

Troy, Mich. — Sears Holdings, currently a wholly-owned subsidiary of Kmart Holding and Sears, Roebuck and Co., has announced a $4 billion Senior Secured Revolving Credit Facility. Sears Holdings will be the holding company for the Sears and Kmart businesses after completion of the business combination. Already committed to the facility by eight financial institutions is $3.5 billion. The facility is to be available for five years to fund working capital needs, capital expenditures, acquisitions and other general corporate purposes. The credit facility would become effective upon consummation of the business combination between Kmart and Sears.

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