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Albertsons announces new guaranteed notes backing tenders for Safeway and New Albertson's notes
By Paul A. Harris
Portland, Ore., June 6 – Albertsons Cos. LLC plans to use proceeds from the sale of new guaranteed senior notes to fund $500 million of tender offers that it announced on Monday, according to a press release.
Dealer manager BofA Merrill Lynch is expected to lead the notes offering, which has yet to be launched into the market, a trader said on Tuesday morning.
The notes would be issued via the Boise, Idaho-based food and drug retailer's subsidiaries Safeway Inc. and New Albertson's, Inc.
The company is tendering for eight of the Safeway and New Albertson's outstanding notes issues ranging in maturity from 2017 to 2031.
The early tender date is June 16.
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