Roundy's to seek new credit facility with initial public offering

By Sara Rosenberg

New York, Dec. 5 - Roundy's Inc. plans on getting a new senior credit facility in connection with its initial public offering of common stock, according to an S-1 filed with the Securities and Exchange Commission on Monday.

The facility is expected to include a revolver and may also have term loans depending on market conditions and other financing alternatives available to the company.

Proceeds from the credit facility and the stock offering will be used to repay all of the outstanding borrowings under the company's existing credit facility.

As of Oct. 1, the company had $689 million outstanding under its first-lien credit facility and $150 million outstanding under its second-lien loan.

Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC are the underwriters on the IPO, and the company expects that affiliates of certain of the underwriters will participate as arrangers and/or lenders under the new credit facility.

Roundy's is a Milwaukee, Wis.-based supermarket chain.

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