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Supervalu to refinance $2.5 billion of debt as retailer shops itself

from The Wall Street Journal

Supervalu Inc. is shopping a new loan and paving the way to refinance up to $2.5 billion of debt, according to a person familiar with the offering, a day after the supermarket operator said it had put itself on the auction block amid an effort to maintain profitability. The retailer began gauging investor interest in a new $850 million term loan and put in motion plans for a new $1.65 billion revolving credit line, both of which are expected to give it more wiggle room with expenses. more

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