Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for Albertsons Cos. Inc. > News item |
Albertsons to sell $2.35 billion of notes in three parts on Wednesday
By Paul A. Harris
Portland, Ore., Jan. 21 – Albertsons Cos. Inc. plans to price $2.35 billion of senior notes (existing ratings B3/BB-) in three tranches on Wednesday, according to market sources.
In conjunction with co-issuers Safeway Inc., New Albertsons LP and Albertson’s LLC, the Boise-based grocery retailer is offering $750 million of new three-year notes, in addition to a $600 million add-on to the 4 5/8% notes due Jan. 15, 2027 and $1 billion of new 10-year notes, which come with five years of call protection.
BofA Securities Inc. is leading the Rule 144A and Regulation S for life deal.
Albertsons plans to use the proceeds, along with cash on hand, to pay off its term loan facility.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.