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    Supervalu to Offer $500M of Notes

    Supervalu, Inc. plans to offer $500 million in aggregate principal amount of its senior notes, due 2016.

    Supervalu, Inc. plans to offer $500 million in aggregate principal amount of its senior notes, due 2016.

    The Minneapolis-based company said yesterday it intends to use the net proceeds of the offering to fund all or a portion of the purchase price of its 7.875 percent notes due Aug. 1, 2009, the 6.95 percent notes due Aug. 1, 2009, issued by its wholly owned subsidiary, New Albertson’s, Inc. and the 8.35 percent senior notes due May 1, 2010, issued by New Albertson’s that are tendered and accepted by Supervalu for purchase in its offer to buy for cash up to the $700 million aggregate principal amount of the outstanding notes, which the grocer began yesterday.

    Currently, there are $350 million of Supervalu 2009 notes, $350 million of the Albertson’s 2009 notes and $275 million of Albertson’s 2010 notes outstanding.

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