Minneapolis Supervalu yesterday said it closed its offering of $1 billion in senior notes due 2016.
The grocer said it will use the proceeds to repay all or a portion of the purchase price of Supervalu 2009 notes due Aug. 1; Albertsons 2009 notes issued by its wholly owned subsidiary, New Albertson’s, due Aug. 1; and senior notes issued by New Albertson’s, due May 1, 2010.
Two of the debts due this year have a consolidated outstanding principal amount of $350 million each. The note maturing next year has $275 million outstanding.
By repaying the notes, Supervalu said the financing condition of the offer has been satisfied, according to a company statement.