Sears Borrows $500 Million

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Sears Borrows $500 Million

04/12/2016

Half that amount was funded on April 8, $125 million of it provided by ESL Investments, the hedge fund owned by billionaire Eddie Lampert, who owns a controlling interest in Sears. The company also closed April 8 on a previously arranged $750 million loan. Sears spun off more than 250 Sears and Kmart stores last June.