MINNEAPOLIS--(BUSINESS WIRE)--May. 31, 2013--
SUPERVALU INC. (NYSE: SVU) (“SUPERVALU”) today announced the expiration
of its previously announced modified “Dutch Auction” tender offer (the
“Offer”) to purchase up to $372,018,000 (the “Tender Cap”) aggregate
principal amount of its 8.000% Senior Notes due 2016 (the “Notes”) on
the terms and conditions set forth in the Offer to Purchase, dated May
2, 2013 (the “Offer to Purchase”), and the related Letter of Transmittal
(the “Letter of Transmittal” and, together with the Offer to Purchase,
the “Offer Documents”) sent to holders of the Notes.
As of 12:00 midnight, New York City time, at the end of May 30, 2013
(the “Expiration Time”), $373,053,000 in aggregate principal amount of
the Notes had been validly tendered (and not validly withdrawn) pursuant
to the Offer. As of 12:00 midnight, New York City time, at the end of
May 15, 2013 (the “Early Tender Time”), an aggregate principal amount of
Notes equal to the Tender Cap were validly tendered (and not validly
withdrawn) pursuant to the Offer. All Notes validly tendered (and not
validly withdrawn) pursuant to the Offer at or prior to the Early Tender
Time were accepted for purchase and settled by SUPERVALU on May 21, 2013
(the “Early Settlement Date”). As a result of the Offer being fully
subscribed at the Early Tender Time and the acceptance priority for
Notes described in the Offer to Purchase, no Notes tendered after the
Early Tender Time will be accepted for purchase. Notes tendered and not
accepted for purchase will be promptly returned or credited to the
applicable holder’s account.
This press release is for informational purposes only and does not
constitute an offer to purchase, the solicitation of an offer to
purchase or a solicitation of tenders. The Offer was made solely
pursuant to the Offer Documents.
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. For more information about SUPERVALU
Source: SUPERVALU INC.