Kroger Prices $10.5 Billion of Senior Notes

Core Viewpoint - The Kroger Co. has announced a public offering of $1.0 billion in various senior notes to fund a portion of its proposed merger with Albertsons Companies, Inc. [1][2] Group 1: Offering Details - The company priced a total of $1.0 billion of 4.700% Senior Notes due 2026, $1.0 billion of 4.600% Senior Notes due 2027, $1.4 billion of 4.650% Senior Notes due 2029, $1.3 billion of 4.900% Senior Notes due 2031, $2.2 billion of 5.000% Senior Notes due 2034, $2.1 billion of 5.500% Senior Notes due 2054, and $1.5 billion of 5.650% Senior Notes due 2064 [1] - The expected settlement date for the offering is August 27, 2024, subject to customary closing conditions [1] Group 2: Use of Proceeds - The net proceeds from the offering will be used to pay a portion of the cash consideration for the merger with Albertsons [2] - If the merger is not completed, the proceeds from the 2034, 2054, and 2064 notes will be used for general corporate purposes [2] Group 3: Redemption Conditions - The 2026, 2027, 2029, and 2031 notes are subject to a special mandatory redemption if the merger is terminated or does not close by an agreed date [2]