Albertsons obtains $4B restated asset-based revolver

Albertsons Cos. Inc. disclosed that on Dec. 20 it entered into a $4 billion amended and restated asset-based revolver due December 2026.

Pricing is tied to availability, at L+125 at one tier and at L+150 on another.

BofA Securities, Wells Fargo, Bank of Montreal, Barclays, Citi, Credit Suisse, Deutsche Bank, Fifth Third, Goldman Sachs, J.P. Morgan, Morgan Stanley, MUFG, PNC Capital Markets, Truist Securities and U.S. Bank acted as joint lead arrangers.

The facility is covered by a total fixed-charge coverage ratio set at 1x.

Albertsons Cos. operates as a food and drug retailer in the U.S. Corporate issuer ratings are BB/Ba2.