SEARS RECEIVABLE SELLS $783.5M IN FIXED NOTES

CHICAGO--Sears Receivable Financing Group, Inc., a subsidiary of Sears, Roebuck & Co., sold $783.5 million of fixed-rate certificates, backed by SearsCharge credit card receivables. Proceeds will be used to replace existing financing. The certificates were priced in two parts. The $750 million class A senior certificates were rated Triple-A by both Moody's Investors Service Inc. and Standard and Poors rating group. The $33.5 million in class B subordinate certificates were rated Single-A1 by Moody's and Single-A by S&P.
Underwriters were led by CS First Boston.
--Fairchild News Service

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