SHOPKO STORES SECURES $108 MILLION CREDIT AGREEMENT
SHOPKO STORES SECURES $108 MILLION CREDIT AGREEMENT GREEN BAY, Wis., July 17 /PRNewswire/ -- ShopKo Stores, Inc.
(NYSE: SKO) today announced the company has entered into a $107.5 million revolving credit agreement with Morgan Guaranty Trust Company of New York and seven other banking institutions. The three-year agreement became effective June 23, 1992.
"This credit agreement and our March bond offering replace all financing arrangements ShopKo had with its former parent company, Super Valu," said Mark Kennedy, ShopKo senior vice president and chief financial officer. "We are in an excellent position to finance our planned expansion and other capital projects." In addition to Morgan Guaranty Trust Company of New York, other banks participating in the credit agreement are First Bank National Association; Nations Bank of North Carolina, N.A.; Pittsburgh National Bank; First Wisconsin National Bank of Milwaukee; Bank One, Green Bay; Kellogg Citizen National Bank of Green Bay and J.P. Morgan, Delaware. ShopKo Stores, Inc. is a leading regional discount store chain operating 111 stores in 13 states. -0- 7/17/92 /CONTACT: Gene Bankers, vice president of ShopKo Stores, Inc., 414-496-4158/ (SKO) CO: ShopKo Stores, Inc. ST: Wisconsin IN: REA SU:
KK -- CL012 -- 0202 07/17/92 11:19 EDT
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|Date:||Jul 17, 1992|
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