Southeastern Grocers to price $325 million secured notes on Tuesday; initial talk low 6% area

By Paul A. Harris

Portland, Ore., Oct. 5 – Southeastern Grocers plans to price a $325 million offering of eight-year senior secured notes (expected ratings B3/B+) on Tuesday, according to market sources.

Presentations were set to be made on a late Monday morning conference call with investors.

Initial talk is the low 6% area, a trader said.

BofA Securities Inc., Deutsche Bank Securities Inc. and Truist Securities Inc. are the joint bookrunners.

The notes become callable after three years at par plus 50% of the coupon.

The issuing entities will be SEG Holding, LLC and SEG Finance Corp.

The Jacksonville, Fla., food retailer, which serves the southeastern United States, plans to use the proceeds, together with a draw on its revolver, to repay its term loan.

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