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In This List

Supervalu 8-year high yield bonds (B-/B3) price to yield 7.75%

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Supervalu 8-year high yield bonds (B-/B3) price to yield 7.75%

supervalu logoSupervalu yesterday afternoon completed its SEC-registered offering of senior notes via bookrunners Goldman Sachs, Credit Suisse, Morgan Stanley, and Barclays, along with co-managers Bank of America and Wells Fargo, according to sources. Terms were finalized at the tight end of talk. Supervalu is using proceeds, along with borrowings under its amended and restated $1 billion asset-based revolving credit facility, to fund the redemption of the $350 million of 8% notes due 2016. Note the ratings are B-/B3, which reflects an upgrade from Caa1 at Moody’s.


Issuer Supervalu
Ratings B-/B3
Amount $350 million
Issue senior (SEC Reg.)
Coupon 7.75%
Price 100
Yield 7.75%
Spread T+557
Maturity Nov. 15, 2022
Call nc-4 @par+50%
Trade Nov. 10, 2014
Settle Nov. 14, 2014 (T+3)
Bookrunners GS/CS/MS/Barc
Co-Managers BAML/WFS
Price talk 7.75-8%