Kroger talks dollar-denominated senior notes due 2050 at Treasuries plus 190 bps-195 bps area

By Cristal Cody

Tupelo, Miss., Jan. 6 – Kroger Co. plans to price a dollar-denominated registered offering of senior notes due Jan. 15, 2050 (Baa1/BBB) on Monday, according to a market source and a 424B5 filing with the Securities and Exchange Commission.

Initial price talk is in the Treasuries plus 190 basis points to 195 bps area.

BofA Securities, Inc., Mizuho Securities USA LLC, RBC Capital Markets, LLC, Citigroup Global Markets Inc., Fifth Third Securities Inc. and MUFG are the bookrunners.

The notes have make-whole and par calls and feature a change-of-control put at 101%.

Proceeds will be used to refinance debt that matures in January 2020 and for general corporate purposes.

Kroger is a Cincinnati-based grocery retailer.

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