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Albertsons Cos. Announces Proposed Senior Notes Offering

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Albertsons Cos. Inc. intends to offer $2.35 billion in aggregate principal amount of new senior notes due 2023, additional senior notes due 2027 and new senior notes due 2030. The additional 2027 notes will be issued pursuant to the same indenture as those issued by the company on Nov. 22, 2019. The company and its subsidiaries, Safeway Inc., New Albertsons L.P. and Albertson’s LLC, will be co-issuers of the notes.

Albertsons Cos. intends to use the net proceeds from the offering, together with cash on hand, to (1) fund the repayment of its term loan facility in full and (2) pay fees and expenses related to the term loan repayment and the issuance of the notes.

The notes will be offered in the United States to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, and to persons outside the United States in compliance with Regulation S under the Securities Act. The notes have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

Albertsons Cos., which is based in Boise, Idaho, is one of the largest food and drug retailers in the United States. It operates stores across 34 states and the District of Columbia under 20 banners including Albertsons, Safeway, Vons, Jewel-Osco, Shaw’s, Acme, Tom Thumb, Randalls, United Supermarkets, Pavilions, Star Market, Haggen and Carrs.

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