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Stater Bros. launches $725 million credit facility led by Merrill
By Paul A. Harris
Portland, Ore., April 22 - Stater Bros. Markets launched a $725 million credit facility at a Tuesday bank meeting, according to a market source.
The deal, via lead left bookrunner BofA Merrill Lynch, features a $150 million revolver, a $275 million five-year term loan A and a $300 million seven-year term loan B.
The San Bernardino, Calif., supermarket chain plans to use the proceeds to refinance its term loan, as well as its 7¼% notes due 2015 and its 7 3/8% notes due 2018.
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