SUPERVALU (SVU) Successfully Completed $2.5B In Financing

August 30, 2012 4:59 PM EDT
SUPERVALU INC. (NYSE: SVU) successfully completed two debt financing transactions, totaling $2.5 billion.

  • A new five-year $1.65 billion asset-based revolving credit facility, secured by the Company’s inventory, credit card receivables and certain other assets, which will bear interest at the rate of LIBOR + 1.75 percent to LIBOR + 2.25 percent (depending on utilization). The line of credit’s lead arrangers are Wells Fargo, U.S. Bank, Barclays and Credit Suisse.

  • A new six-year $850 million term loan, secured by a portion of the Company’s real estate and equipment, which will bear interest at the rate of LIBOR + 6.75 percent and include a floor on LIBOR set at 1.25 percent. The term loan’s lead arrangers are Credit Suisse and Barclays.

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Credit Suisse, Barclays, Wells Fargo