Spartan Stores calls remaining $57.4 million of 3.375% convertibles

By Tali David

Minneapolis, Jan. 4 - Spartan Stores, Inc. called the remaining $57.4 million of its 3.375% senior convertible notes due 2027, according to a filing with the Securities and Exchange Commission.

The convertibles will be redeemed on March 1.

The company said it plans to fund the redemption with available cash and borrowings under its revolving credit facility.

Notes may also be converted at any time before the close of business on Feb. 28.

The conversion rate is 28.296406 shares of common stock per $1,000 principal amount of convertibles.

Bank of New York Mellon Trust Co., NA is the conversion agent.

Spartan is a Grand Rapids, Mich.-based grocery distributor.

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