Grocery Outlet to launch $975 million credit facilities on Thursday

By Sara Rosenberg

New York, Oct. 3 – Grocery Outlet Inc. is set to hold a lenders’ presentation at 11 a.m. ET on Thursday to launch $975 million of senior secured credit facilities, according to a market source.

Morgan Stanley Senior Funding Inc., Bank of America Merrill Lynch and Deutsche Bank Securities Inc. are the lead banks on the deal.

The facilities consist of a $100 million revolver, a $725 million first-lien term loan and a $150 million second-lien term loan, the source said.

Proceeds will be used to refinance existing debt and fund a shareholder distribution.

Grocery Outlet is an Emeryville, Calif.-based grocery store operator.

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