Albertsons launches $1.5 billion term loan B-7 at Libor plus 275 bps

By Sara Rosenberg

New York, Aug. 6 – Albertsons Cos. Inc. launched on Tuesday a $1.5 billion covenant-lite first-lien term loan B-7 due November 2025 with price talk of Libor plus 275 basis points with a 0.75% Libor floor and an original issue discount of 99.5, according to a market source.

The term loan B-7 has 101 soft call protection for six months.

Credit Suisse Securities (USA) LLC is the left lead on the deal.

Proceeds will be used to reprice an existing term loan B-7 down from Libor plus 300 bps with a 0.75% Libor floor.

Commitments were scheduled to be due at 5 p.m. ET on Tuesday, the source added.

Albertsons is a Boise, Idaho-based food and drug retailer.

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