US: Supervalu closes Note offerings
Supervalu has announced today the closing of an offering of US$500m in aggregate principal amount of its 7.50% Senior Notes due 2014. The Notes will be senior obligations and rank equally with all of its other senior unsecured indebtedness, the supermarket chain said.
Supervalu intends to use the net proceeds from the offering of the Notes to purchase 7.25% Hybrid Income Term Security Units held in the form of Corporate Units of its wholly owned subsidiary, New Albertson's, tendered in the retailer's offer to purchase any and all such outstanding Corporate Units at a purchase price in cash of $25.22 per Corporate Unit. The offer will expire at 5:00pm New York City time, on 20 November 2006 unless extended or earlier terminated.
As a result of the completion of the offering of the Notes, Supervalu has announced that the financing condition to the offer has been satisfied. However, the completion of the offer remains subject to the other closing conditions and subject to applicable law, Supervalu said.
Companies: Supervalu Inc
US retailer Supervalu has upped its earnings forecast for the year ahead after reporting record results over the last 12 months....
Supervalu's board of directors has adopted an annual share repurchase programme, allowing the company to buy up to US$235m of the company's stock....
The US retail group Supervalu has issued diluted earnings per share guidance, on a GAAP basis, for the 2008 fiscal year. The company said it expected EPS of US$2.58 to $2.77....
Minneapolis-based retail group Supervalu has announced that it is to consolidate its distribution centres in the eastern US....
US grocery retailer Supervalu has announced that John Hooley is to retire from his post as executive vice president and president of Retail East in the spring, after some 33 years with the company....
US retailer Albertsons is reported to be closing six more stores in the Dallas-Fort Worth market, meaning a total of 11 shuttered stores in Texas, according to local reports....
Supervalu, the third-largest US supermarket chain, said today (9 January) that its third quarter earnings increased by almost 51% on the back of its Albertsons acquisition....
An operator of SuperValu chains in Ireland has reportedly made plans to join forces with property developer Frank Gormley, securing site redevelopments through a deal valued at over EUR100m (US$131.9m...
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