Kroger Extends Expiration Of Exchange Offers, Consent Solicitations For Albertsons Co. Notes

(RTTNews) - Kroger Co. (KR), Thursday announced that it has extended the expiration date of the previously announced offers to exchange any, and all outstanding notes of Albertsons Companies, Inc. (ACI), New Albertsons, L.P., Safeway Inc., Albertson's, Albertsons Safeway, and American Stores Company, as applicable, for up to around $7.4 billion aggregate principal amount of new notes to be issued by the company and cash.

Additionally, the supermarket chain has extended the expiration date for the related solicitations of consent to adopt certain proposed amendments to the indentures governing the ACI Notes, solely with respect to the Unconsented Series. The company extended such expiration date from September 27 to October 3.

The company expects the settlement of the exchange offers and consent solicitations to occur promptly after the Expiration Date and to occur on or promptly after the closing date of the merger with Albertsons, which is estimated to close during the fourth quarter.

Currently, Kroger's stock is moving down 0.46 percent, to $56.35 on the New York Stock Exchange.