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BRIEF-Sears Holdings extends debt maturity and derisks pension obligations

May 23 Sears Holdings Corp:

* Announced agreements to extend a portion of its $500 million 2016 secured loan facility and annuitize $515 million of its pension obligations

* Sears Holdings - "Actions serve to reduce size of company's debt and pension obligations, as well as future risk associated with company's liabilities"

* Says Sears Holdings extends debt maturity and derisks pension obligations

* Sears Holdings Corp says targeting a reduction in our outstanding debt and pension obligations of $1.5 billion for fiscal 2017

* Sears Holdings - on May 22, some Holdings' units entered into agreement to repay $100 million of $500 million 2016 secured loan facility at maturity in July 2017

* Sears Holdings Corp - certain Holdings' subsidiaries entered into agreement to extend maturity of remainder of $500 million 2016 secured loan until Jan 2018

* Sears Holdings Corp - On May 15, company entered into an agreement to annuitize $515 million of pension liability with Metropolitan Life Insurance Company

* Sears - agreement to annuitize $515 million of pension liability with MLIC,under which MLIC will pay future pension benefit payments to about 51,000 retirees Source text for Eikon: Further company coverage:

我们的标准: 汤森路透“信任原则

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