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Stater Bros. Markets to put in place $100 million three-year revolver
By Paul A. Harris
St. Louis, April 3 - Stater Bros. Markets intends to put in place a new $100 million three-year revolving credit facility, the company said in a news release Tuesday.
Bank of America is the sole administrative agent and sole initial lender.
Proceeds will be used to replace the company's existing credit facility.
Meanwhile on Tuesday, Stater Bros. Holdings priced an upsized $285 million issue of eight-year senior notes (B2/B+) at par to yield 7¾%.
The issue was led by Banc of America Securities LLC and upsized from $175 million.
Stater Bros. Markets is a wholly owned subsidiary of Stater Bros. Holdings Inc., a Colton, Calif., supermarket chain.
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