Delhaize America Gets New Credit Facility
BRUSSEL, Belgium -- Delhaize Group, the international food retailer based here, said its U.S. subsidiary, Delhaize America, has entered into a new revolving credit facility.
The new $500 million, five-year unsecured revolving facility replaces Delhaize America's existing $350 million secured credit line that would have matured at the end of July.
The company said the new facility will mature April 22, 2010, and will be utilized to provide backup for seasonal working capital needs and general corporate purposes.
Delhaize America is a holding company that operates supermarkets along the East Coast under the Food Lion, Hannaford, Harvey's, Kash n' Karry and Sweetbay Supermarkets banners.
The new $500 million, five-year unsecured revolving facility replaces Delhaize America's existing $350 million secured credit line that would have matured at the end of July.
The company said the new facility will mature April 22, 2010, and will be utilized to provide backup for seasonal working capital needs and general corporate purposes.
Delhaize America is a holding company that operates supermarkets along the East Coast under the Food Lion, Hannaford, Harvey's, Kash n' Karry and Sweetbay Supermarkets banners.