Southeastern Grocers to repay term loan with note proceeds

By Taylor Fox

New York, Oct. 5 – Southeastern Grocers, Inc. indirect wholly owned subsidiaries SEG Holding, LLC and SEG Finance Corp. intend to repay in full the amounts outstanding under, and cancel, the group’s existing term loan facility using proceeds from its $325 million senior secured notes issuance, according to a news release.

The group will also use cash on hand and drawings under the revolving credit facility to fund the repayment.

Any remaining proceeds will be used to pay transaction fees and expenses related to the repayment of the term loan facility and the issuance of the notes.

Jacksonville, Fla.-based Southeastern Grocers is parent company and home of BI-LO, Fresco y Mas, Harveys Supermarket and Winn-Dixie grocery stores.

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