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HCN Stock Watch: Sears gets a boost

BY HBSDEALER Staff

Both Sears (SHLD) and Sears Hometown (SHOS) were up more than 1% after Sears Holdings Corp. announced $1.0 billion in new term borrowing.

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Moen brings Morley collection to Menards

BY HBSDEALER Staff

The Moen Morley bath accessory collection, available at Menards, is described a a "casual, transitional style." 

Offered in Mediterranean Bronze finish, the collection coordinates with a variety of popular bath designs, according to North Olmsted, Ohio-based Moen.

Accessories in the Morley collection include: double robe hook, pivoting paper holder, 18-in. and 24-in. towel bars, and towel ring. 

In addition to style, each accessory includes mounting hardware for easy installation. All products are backed by Moen’s limited lifetime warranty. 

Moen is part of Fortune Brands Home & Security.

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Sears takes out $1 billion in term loans

BY HBSDEALER Staff

Sears Holdings Corporation announced that its wholly owned subsidiaries, Sears Roebuck Acceptance Corp. and Kmart Corporation, have taken out a $1.0 billion loan.

The incremental term loan was enacted under a new senior secured term loan facility under the company’s existing credit agreement, titled Second Amended and Restated Credit Agreement dated April 8, 2011. The agreement continues to provide for a $3.275 billion asset-based revolving credit facility.

The net proceeds of the loan were used to reduce borrowings under the revolving facility, resulting in borrowings outstanding under the revolving facility of approximately $1.0 billion.

The loan matures in June 2018, while the revolving facility remains scheduled to expire on April 8, 2016.

Sears ranks third on the 2013 HCN Retailer Scoreboard, with estimated home improvement sales of $16.4 billion. 

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