New loan agreement primes Save-A-Lot spinoff

New loan agreement primes Save-A-Lot spinoff

In another step toward spinning off its discount Save-A-Lot division, Supervalu said Monday that it has amended its term loan agreements.

In the event a spinoff of Save-A-Lot is consummated, the amendment requires that Save-A-Lot issue a minimum of $400 million of long-term debt while Supervalu reduces its term loan balance a minimum of $350 million, including proceeds of the Save-A-Lot debt issuance.

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