Kmart amends and restates, removing synthetic term loan from capital structure

By Sara Rosenberg

New York, Oct. 12 - Kmart Corp. amended and restated its credit agreement to remove the $200 million synthetic term loan portion of the facility, according to an 8-K filed with the Securities and Exchange Commission Tuesday.

GECC Capital Markets Group Inc., Fleet Securities Inc. and Banc of America Securities LLC are co-lead arrangers and bookrunners, General Electric Capital Corp. is administrative agent, Fleet Retail Finance Inc. and Bank of America are co-syndication agents, and GMAC Commercial Finance LLC and Foothill Capital Corp. are co-documentation agents.

The Troy, Mich., discount retailer's amended facility is effective as of Oct. 7.

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