SuperValu to redeem its $350 million 8% senior notes via new offering

By Tali Rackner

Norfolk, Va., Nov. 10 – SuperValu Inc. plans to use the proceeds from a senior note offering to fund the redemption of its $350 million 8% senior notes due 2016, according to a 424B5 filing with the Securities and Exchange Commission.

Proceeds, along with borrowings under the company’s amended ABL facility, will also be used to pay accrued interest, the applicable redemption premium and the estimated transaction fees and expenses related to the redemption.

The company assumes the redemption date to be Dec. 7.

SuperValu is an Eden Prairie, Minn.-based supermarket operator and wholesale grocery distributor.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.