Long-standing U.S. retail giant Sears continues to try to offset its current and future retirement costs through some careful management of its debt – and a move to try to soften those pension obligations.
Bloomberg reports that in an effort to help fund lump-sum payments to its retirees, the company's employee pension plan has sold off a share of the $250 million in Sears Holdings Corp. debt it purchased several years ago.
The company's retirement plan has filed to sell more than $11 million worth of senior secured notes, which will mature in 2018.
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