Albertsons talks $1.25 billion eight-year notes to yield in 6¾% area; pricing Wednesday

By Paul A. Harris

Portland, Ore., May 25 – Albertsons Cos. Inc. talked its $1.25 billion offering of eight-year senior notes (B3/B+) to yield in the 6¾% area, according to an investor.

Books close at 1 p.m. ET on Wednesday, and the Rule 144A and Regulation S deal, which is being led by BofA Merrill Lynch, is set to price thereafter.

Talk comes at the tight end of earlier 6¾% to 7% guidance, according to sources.

The notes come with three years of call protection.

The Boise, Idaho-based food and drug retailer plans to use the proceeds to repay some amounts outstanding under its existing term loan facility and to redeem 7¾% senior secured notes due 2022.

© 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.