Albertsons to price $750 million long eight-year notes on Thursday

By Paul A. Harris

Portland, Ore., Aug. 4 – Albertsons Cos., LLC plans to price $750 million of senior notes due in March 2025 on Thursday, according to market sources.

The Rule 144A and Regulation S deal is in the market via a syndicate of banks that includes BofA Merrill Lynch, Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, Goldman Sachs & Co., Deutsche Bank Securities Inc. and Barclays.

The long eight-year notes come with three years of call protection.

The Boise, Idaho-based supermarket operator plans to use the proceeds to repay about $240 million under its senior secured asset-based loan facility and $500 million under its existing term loan facility, with any remaining proceeds for general corporate purposes, which may include capital expenditures, working capital and potential acquisitions and strategic transactions.

The co-issuers include subsidiaries Safeway Inc., New Albertson's, Inc. and Albertson's LLC.

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