Supervalu to Pay Cash for Note Buyback
MINNEAPOLIS -- Supervalu Inc. here said it will pay cash to repurchase its zero-coupon senior liquid yield option notes due 2031. Holders of the notes have the right to require the company to buy back all or a portion of their notes as of Oct. 1, according to the company, which said the value of the outstanding notes as of that date will be about $265 million.
Supervalu said its second quarter financial results will not be affected by the cash buybacks, and also said note holders will have the right to require the company to repurchase all or some of their notes as of Oct. 1, the accreted value of which would be about $265 million.
In June, the retailer/distributor finalized its acquisition of more than 1,100 Albertson's stores, vaulting it to become the county's third-largest supermarket chain by revenue.
Supervalu said its second quarter financial results will not be affected by the cash buybacks, and also said note holders will have the right to require the company to repurchase all or some of their notes as of Oct. 1, the accreted value of which would be about $265 million.
In June, the retailer/distributor finalized its acquisition of more than 1,100 Albertson's stores, vaulting it to become the county's third-largest supermarket chain by revenue.