Kroger gets $2.75 billion five-year revolver at Libor plus 87.5-150 bps

By Susanna Moon

Chicago, June 30 – Kroger Co. inked an amended and restated credit agreement Monday for a $2.75 billion five-year revolving credit facility, according to an 8-K filing with the Securities and Exchange Commission.

Interest on the loans is Libor plus 87.5 basis points to 150 bps based on leverage. The commitment fee ranges from 10 bps to 20 bps.

The company may upsize the facility by up to $750 million.

Bank of America Merrill Lynch, Wells Fargo Securities LLC, Citigroup Global Markets Inc., RBS Securities Inc. and U.S. Bank NA are the joint lead arrangers and bookrunners.

Bank of America, NA is a co-administrative agent and paying agent, and Wells Fargo Bank NA is a co-administrative agent. Citibank, NA is the syndication agent. Royal Bank of Scotland plc and U.S. Bank NA are the co-documentation agents.

The credit agreement will mature on June 30, 2019.

Kroger is a Cincinnati-based grocery retailer.

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