Albertsons’ Safeway, New Albertsons extend early tender, final deadline of capped tender offers

By Rebecca Melvin

New York, May 20 – Albertsons Cos., Inc. is extending the early tender date and final deadline of its previously announced capped tender offers for seven series of notes issued by its Safeway Inc. and New Albertsons LP subsidiaries, according to a company news release.

The early tender date has been extended to 5 p.m. ET on May 22 from May 17, and the final tender date has been extended to 11:59 p.m. ET on June 6 from June 3.

The company also announced interim results of the cash tenders for the following notes:

• $18,779,000 of the $289,119,000 of 7¼% debentures due 2031 issued by Safeway for a total consideration of $953.75 per $1,000 principal amount. There is a $30 million cap;

• $6,219,000 of the $127,193,000 of 7.45% debentures due 2027 issued by Safeway for a total consideration of $966.25. There is a $15 million cap;

• $60,939,000 of the $117,572,000 of 6 5/8% medium-term notes due 2028 issued by New Albertsons for a total consideration of $875.00. There is a $15 million cap;

• $179,586,000 of the $542,561,000 of 7.45% senior debentures due 2029 issued by New Albertsons for a total consideration of $957.50. There is a $60 million cap;

• $5,401,000 of the $157,696,000 of 7¾% debentures due 2026 issued by New Albertsons for a total consideration of $961.25. There is a $20 million cap;

• $78.94 million of the $384.99 million of 8% senior debentures due 2031 issued by New Albertsons for a total consideration of $961.25. There is a $40 million cap; and

• $40,407,000 of the $197,751,000 of 8.7% senior debentures due 2030 issued by New Albertsons for a total consideration of $1,000.00. There is a $20 million cap.

The amount accepted for purchase may be prorated if the maximum tender amount for a particular series is insufficient to purchase all validly tendered securities of that series.

BofA Securities Inc. (888 292-0070 or 980 388-4813) is the dealer manager.

Global Bondholder Services Corp. (866 470-3900 or 212 430-3774) is the tender and information agent.

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

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