Sears completes sale of $600 million in securities
-- Home Textiles Today, 3/12/2001
Sears, Roebuck and Co., the nation's second-largest retailer, has completed the sale of $600 million of AAA-rated credit card-backed securities.
The debt, with an average maturity of five years, was priced at 18 basis points over one-month Libor.
Lead underwriter for the offering was Deutsche Banc Alex. Brown, with co-managers including Credit Suisse First Boston, Merrill Lynch & Co., Morgan Stanley Dean Witter and J.P. Morgan Chase.
