Lucky Stores secured a $600-million credit line.

Security Pacific National Bank will manage the loan, part of which will be used by the Dublin, Calif., food retailer to repurchase about 27% of its outstanding common shares at $40 a share, or about $575 million. Other funds will come from the sale of Gemco and Checker Auto Parts. The company also said it is waiving the sale of its Yellow Front subsidiary by year-end as a condition of the share repurchase. Discussions concerning that sale are in progress, but the company said it does not expect to reach an agreement before the tender offer expires.