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Security Details
- Coupon Rate
- 7.40%
- Liquidation Preference
- $25.00
- Call Price
- $25.00
- Call / Redemption Date
- 5/1/2008
- Maturity Date
- 2/1/2043
- Distribution Period
- Q
- Rate Type
- Fixed
- Annual Distribution
- 1.85
- Distribution Dates
- 2/1, 5/1, 8/1 & 11/1
- Credit Ratings
- Moody's Ba2 · S&P BB- (1/22/2009)
- Tax-Advantaged Dividends
- No
Security Profile
- CUSIP
- 812404507
- Market Cap
- Small Cap · $250 Million
- IPO
- 2/11/2003 · $25.00/share
- Previous Symbol
- SRL (changed 2/7/2008)
- Parent Company
- Sears Roebuck and Co. (SHLDQ*)
Business: Sears Roebuck Acceptance Corp., 7.40% Notes due 2/01/2043, issued in $25 denominations, redeemable at the issuer's option on or after 5/01/2008 at $25 per share plus accrued and unpaid interest, and maturing 2/01/2043. Distributions of 7.40% ($1.85) per annum are paid quarterly on 2/1, 5/1, 8/1 & 11/1 to holders of record 15 days prior to the record date (NOTE: the ex-dividend date is at least 2 business days prior to the record date). Distributions paid by these debt securities are interest and as such are NOT eligible for the 15% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. Units are expected to trade flat, which means accrued interest will be reflected in the trading price and the purchasers will not pay and the sellers will not receive any accrued and unpaid interest. The Notes are unsecured and unsubordinated obligations of the company and will rank equally with all existing and future unsecured and unsubordinated debt of the company. See the IPO prospectus for further information on the debt securities by clicking on the ‘Link to IPO Prospectus’ provided below.
Notes: June 14, 2005 -- Sears Roebuck Acceptance Corp., a direct wholly-owned finance subsidiary of Sears, Roebuck and Co. and an indirect wholly-owned subsidiary of Sears Holdings Corporation (Nasdaq: SHLD), announced today the results of its tender offers to purchase for cash any and all of its outstanding 7% Notes due 2042 (CUSIP Number 812404408) and its outstanding 7.4% Notes due 2043 (CUSIP Number 812404507). The Offers expired at 5:00 p.m. New York City time, on Monday June 13, 2005. As of the Expiration Time, $56,264,100 aggregate principal amount of the 7% Notes (representing 50.5% of the outstanding 7% Notes) had been validly tendered and not withdrawn and $43,025,250 aggregate principal amount of the 7.4% Notes (representing 46.1% of the outstanding 7.4% Notes) had been validly tendered and not withdrawn. As a result of the tender offer, $55,089,325 aggregate principal amount of the 7% Notes and $50,370,025 aggregate principal amount of the 7.4% Notes will remain outstanding. The settlement is expected to occur on June 16, 2005.
Company Contact
- CEO
- Alan J. Lacy
- CFO
- Glenn R. Richter
- Headquarters
- 3333 Beverly Road, Hoffman Estates, IL 60179
- Phone
- 847-286-2500 · Toll-Free 800-732-7780
- Fax
- 847-286-7829
- Investor Relations
- 847-286-7385 · invrel@sears.com