Kroger to sell fixed-rate notes in three parts via seven bookrunners

By Devika Patel

Knoxville, Tenn., July 17 – Kroger Co. is planning to sell fixed-rate senior notes in three tranches, according to a 424B5 filing with the Securities and Exchange Commission.

The notes are due in 2022, 2027 and 2048.

The 2022 notes will have a make-whole call until one month prior to maturity and then are callable at par. The 2027 notes will have a make-whole call until three months prior to maturity and then are callable at par. The 2048 notes will have a make-whole call until six months prior to maturity and then are callable at par.

Mizuho Securities USA Inc., Goldman Sachs & Co. and U.S. Bancorp Investments Inc. are the bookrunners for the 2022 notes.

Mizuho Securities, RBC Capital Markets Corp. and Wells Fargo Securities LLC are the bookrunners for the 2027 notes.

Mizuho Securities, BofA Merrill Lynch and Citigroup Global Markets Inc. are the bookrunners for the 2048 notes.

Proceeds will be used for a contribution to the company-sponsored defined benefit plan, to refinance long-term debt due August 2017 and for general corporate purposes.

Kroger is a Cincinnati-based grocery retailer.

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