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Stater Bros. plans to call $175 million floaters
By Angela McDaniels
Seattle, April 2 - Stater Bros. Holdings Inc. plans to redeem all of its $175 million floating-rate senior notes due 2010 using proceeds from a planned private placement of $275 million senior notes due 2015, according to a company news release.
The floating-rate notes are callable beginning June 15 at 102.
Proceeds from the private placement also will be used to pay costs related to the construction of the company's new distribution center and corporate offices, to purchase $15 million of its class A common stock, to pay a $5 million dividend to La Cadena Investments, its sole shareholder, and for general corporate purposes.
Stater Bros. is a supermarket chain based in Colton, Calif.
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