Spartan Offers $75 Million in 20-Year Notes

Spartan Stores here yesterday said it will offer $75 million in convertible senior notes due in 2027 in a private placement.

GRAND RAPIDS, Mich. — Spartan Stores here yesterday said it will offer $75 million in convertible senior notes due in 2027 in a private placement. Spartan said it intends to use the proceeds from the offering to pay down its revolving credit facility and for working capital, capital expenditures and other general corporate purposes. The proceeds may also be used to fund the previously announced acquisition of Felpausch retail stores.

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