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Orchard Supply Hardware gets $130 million revolver
By Sara Rosenberg
New York, Dec. 6 - Orchard Supply Hardware Stores Corp. obtained a new $130 million senior secured revolving credit facility in connection with the sale by Sears Holdings Corp. of 19.9% of the voting stock of Orchard Supply to Ares Management LLC, according to a company news release.
In addition, Orchard Supply also received a $120 million commercial mortgage-backed loan.
At closing on Nov. 23, Orchard Supply drew down $56 million under the revolver.
Orchard Supply is a San Jose, Calif.-based operator of home centers.
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