Albertsons to repay term loan debt via $1.25 billion new notes issue

By Susanna Moon

Chicago, May 23 – Albertsons Cos. LLC said it intends to repay debt under the company’s term loan using proceeds of a new notes issue.

Albertsons plans to price $1.25 billion principal amount of senior notes due 2024 under Rule 144A and Regulation S, to be co-issued by the company and its subsidiaries, Safeway Inc., New Albertson's, Inc. and Albertson's LLC, according to a company announcement.

Proceeds also will be used to redeem all of the outstanding 7¾% senior secured notes due 2022 co-issued by the company and Safeway Inc.

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

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