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Albertsons talks $1.25 billion eight-year notes to yield in 6¾% area; pricing Wednesday
By Paul A. Harris
Portland, Ore., May 25 – Albertsons Cos. Inc. talked its $1.25 billion offering of eight-year senior notes (B3/B+) to yield in the 6¾% area, according to an investor.
Books close at 1 p.m. ET on Wednesday, and the Rule 144A and Regulation S deal, which is being led by BofA Merrill Lynch, is set to price thereafter.
Talk comes at the tight end of earlier 6¾% to 7% guidance, according to sources.
The notes come with three years of call protection.
The Boise, Idaho-based food and drug retailer plans to use the proceeds to repay some amounts outstanding under its existing term loan facility and to redeem 7¾% senior secured notes due 2022.
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