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[0] Taking Stock.(brief articles)(Brief Article)(Statistical Data Included)
Crain's Detroit Business, June, 2001
Kmart to sell $400M in bonds to repay other debts Troy-based Kmart Corp., the nation's No. 2 discount chain, planned to sell $400 million of bonds last week to help repay outstanding debt including bank loans, said people familiar with the matter. The retailer is scheduled to sell seven-year senior notes, the people said.
Credit Suisse First Boston is leading manager in the sale. Kmart (NYSE: KM) last sold bonds in January. That sale, comprising $400 million of 9.375 percent five-year notes, was boosted 60 percent from an originally planned $250 million. The firm's outstanding 9.375 percent notes - which were sold through J.P. Morgan Chase & Co. and Lehman Brothers, according to Bloomberg data - were rated ``Baa3'' by Moody's Investors Service and ``BB...
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