Sears Hometown Stores gets five-year $80 million revolving facility

By Wendy Van Sickle

Columbus, Ohio, Oct. 29 – Sears Hometown Stores, Inc. entered into a five-year credit agreement providing for an $80 million senior secured revolving credit facility with PNC Bank, NA as agent on Oct. 23, according to an 8-K filing with the Securities and Exchange Commission.

The revolver is available to the company and some of its subsidiaries for general corporate purposes including to finance the merger consideration that was paid in connection with the acquisition of the company by Transform Holdco LLC.

Borrowings bear interest at Libor plus a margin that is based on availability under the credit agreement, and there is an annualized fee of 50 basis points on unused portions of the credit facility.

The retailer is based in Hoffman Estates, Ill.

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