Gristede's Foods postpones $175 million, cites market conditions

By Paul A. Harris

St. Louis, Mo., July 17 - Citing market conditions, Gristede's Foods, Inc. postponed its offering of $175 million of 10-year senior notes (B2/B+), according to a market source.

Price talk was 11%-11¼% and the deal was originally expected to price on June 28.

Deutsche Bank Securities Inc. and Jefferies & Co. were the bookrunners.

The company will seek alternative means to finance its acquisition of Kings Supermarkets, according to the source.

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