Kroger Extends Exchange Offers, Consent Solicitations for Albertsons Notes

MT Newswires Live11-19 23:42

Kroger (KR) said Tuesday that it has extended its previously announced offers to exchange any and all outstanding notes of Albertsons (ACI), New Albertsons, Safeway, Albertson's, Albertsons Safeway, and American Stores for cash and up to $7.44 billion aggregate principal amount of new Kroger notes.

Kroger said it also extended the consent solicitations for proposed amendments to the indentures governing the unconsented Albertsons notes. The new expiration date for the exchange offers and consent solicitations is Nov. 26, from Nov. 20 previously, the company added.

The company said it has received the requisite number of consents to implement the proposed amendments as of Aug. 29, but the changes will be effective only upon the settlement of the exchange offers. Kroger expects the settlement of both transactions "promptly" after the new deadline.

Closing the planned merger of a Kroger unit with Albertsons, which is expected in Q4, remains a condition for the exchange and consent transactions, Kroger said.

Price: 57.68, Change: -0.39, Percent Change: -0.66

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