MINNEAPOLIS--(BUSINESS WIRE)--May. 21, 2013--
SUPERVALU INC. (NYSE: SVU) (“SUPERVALU”) today announced the closing of
its private offering of $400 million aggregate principal amount of
6.750% Senior Notes due 2021 (the “Notes”). The Notes were offered only
to qualified institutional buyers in accordance with Rule 144A under the
Securities Act of 1933, as amended (the “Securities Act”), and outside
the United States in accordance with Regulation S under the Securities
The Company intends to use the net proceeds of the Notes, together with
borrowings under its amended and restated five-year $1 billion (subject
to borrowing base availability) asset-based revolving credit facility to
fund the purchase price (including accrued interest and the applicable
tender premium and estimated transaction fees and expenses) of the
$372,018,000 aggregate principal amount of the Company’s outstanding
8.000% Senior Notes due 2016 tendered and accepted by the Company for
purchase pursuant to its previously announced modified “Dutch Auction”
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any of the Notes nor does it constitute
an offer, solicitation or sale in any jurisdiction in which such offer,
solicitation or sale is unlawful.
This release contains certain “forward-looking statements” (as such term
is defined under Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended)
relating to future events of SUPERVALU. Such statements are only
predictions and involve risks and uncertainties, resulting in the
possibility that the actual events or performances will differ
materially from such predictions.
About SUPERVALU INC.
SUPERVALU INC. is one of the largest grocery wholesalers and retailers
in the U.S. with annual sales of approximately $17 billion. SUPERVALU
serves customers across the United States through a network of
approximately 3,420 stores, composed of 1,900 independent stores
serviced primarily by the Company’s food distribution business; 1,331
Save-A-Lot stores, of which 950 are operated by licensee owners; and 191
traditional retail grocery stores. Headquartered in Minnesota, SUPERVALU
has approximately 35,000 employees.
Source: SUPERVALU INC.