Sears Roebuck Acceptance tenders for 7%, 7.4% notes

New York, May 13 - Sears Roebuck Acceptance Corp. said it has begun a tender offer to buy its $111 million principal amount of 7% notes due 2042 and $94 million 7.4% notes due 2043.

The Greenville, Del., finance subsidiary of retailer Sears, Roebuck and Co. is offering $25.65 per $25.00 principal amount of the 7% notes and $25.75 per $25.00 principal amount of the 7.4% notes. The prices include accrued interest.

The offer expires at 5 p.m. ET on June 13.

Merrill Lynch & Co. is dealer manager (888 654-8637), and Global Bondholder Services Corp. is information agent and depositary (866 612-1500).

As previously announced, in addition to the tender, Sears Roebuck Acceptance has asked to delist all its debt securities from the New York Stock Exchange and deregister them with the Securities and Exchange Commission.

The move will affect the 6¾% notes due September 2005 in addition to the 7% and 7.4% notes.

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