Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers Paydowns > Headlines for Altivity Packaging, LLC > News item |
Supervalu to prepay $750 million on term loan via Save-A-Lot sale
By Tali Rackner
Norfolk, Va., Oct. 17 – Supervalu Inc. plans to prepay at least $750 million against its outstanding term loan balance with the net proceeds from the sale of its Save-A-Lot business to Onex Corp., according to a press release.
The company intends to use the remaining proceeds from the $1,365,000,000 sale to further reduce debt and improve its capital structure, as well as to fund corporate and growth initiatives.
The sale is expected to be completed by Jan. 31.
SuperValu is an Eden Prairie, Minn.-based supermarket operator and wholesale grocery distributor.
© 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.