Albertsons to repay term loan, ABL facility with senior note offering

By Tali Rackner

Norfolk, Va., Aug. 4– Albertsons Cos., LLC plans to repay $500 million of its existing term loan facility and about $240 million under its senior secured asset-based loan facility with the net proceeds from a new $750 million senior note offering, according to a press release.

The company intends to use any remaining proceeds for general corporate purposes, which may include capital expenditures, working capital and potential acquisitions and strategic transactions.

The company and its subsidiaries, Safeway Inc., New Albertson's, Inc. and Albertson's LLC, will be co-issuers of the new notes, which mature in 2025.

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

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