Albertsons to redeem Safeway’s 5% notes with new offering proceeds

By Angela McDaniels

Tacoma, Wash., Jan. 22 – Albertsons Cos., Inc. plans to redeem all of the 5% senior notes due August 2019 issued by Safeway Inc., according to a company news release.

The company will use a portion of the proceeds of $500 million principal amount of senior notes due 2026 to be issued by Albertsons, Safeway, New Albertsons LP and Albertsons’s LLC.

The remaining proceeds will be used for general corporate purposes, which may include debt repayment, capital expenditures and working capital.

Albertsons is a food and drug retailer based in Boise, Idaho.

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