Bonds
Kroger Sells $10.5 Billion of Bonds to Fund Albertsons Buy
- Company offered notes in 7 parts, including a 40-year tranche
- Offering is one of the biggest corporate bond sales this year
A Kroger grocery store in Covington, Kentucky.
Photographer: Jeffrey Dean/BloombergThis article is for subscribers only.
Kroger Co. sold $10.5 billion of notes on Tuesday to help fund its acquisition of fellow grocer Albertsons Cos. in one of the biggest corporate bond deals of the year.
The supermarket chain issued the bonds in seven parts, according to a person with knowledge of the matter. The longest portion of the deal, a 40-year security, yields 1.62 percentage points over Treasuries after initial discussions of around 1.9 percentage points, said the person, who asked not to be identified as the details are private.