Supervalu to sell $500 million eight-year notes in debt refinancing

By Paul A. Harris

St. Louis, Oct. 23 - Supervalu Inc. will host an investor call at 10:30 a.m. ET on Tuesday for its $500 million offering of eight-year senior notes (expected B1/confirmed B/expected B+), according to an informed source.

The notes, which have been registered with the Securities and Exchange Commission, are expected to price later on Tuesday or else on Wednesday.

Merrill Lynch & Co., Banc of America Securities LLC and Credit Suisse are joint bookrunners. Citigroup and Williams Capital are co-managers.

The notes will come with four years of call protection.

Proceeds will be used to refinance existing debt.

Supervalu is an Eden Prairie, Minn.-based supermarket chain.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.