Dive Summary:

• Sears Holdings Corp. has announced plans to acquire a senior secured term loan facility in an effort to lower borrowings under its revolving credit facility.
• The company stated that the total amount would potentially reach up to $1 billion for the term loan.
• The agreement reached on the term loan indicates that it could be expected to mature by June of 2018.

From the article:

The company said that the term loan would be issued under its existing credit agreement, which provides for a $3.28 billion revolving credit facility. ...