Tribune file photo/Bloomberg
A customer secures a new washing machine purchased at a Sears store Richmond, Calif. 
Getting your Trinity Audio player ready...
Sears Holdings Corp. said it that is seeking senior secured term loan of up to $1 billion to help reduce its borrowing costs.
If approved, the loan would be issued under the Hoffman Estates-based retailer’s current $3.2 billion revolving credit agreement. The debt would mature in June 2018.
Sears shares were trading up more than 3 percent on Monday morning at $62.51. The shares have climbed nearly 35 percent since Sept. 1.
crshropshire@tribune.com | Twitter: @corilyns
