The $750 million SUPERVALU term loan "B" traded heavily on the break last week, according to traders, trading up to 100 1/4. Its loan-only credit default swaps also started to trade following the break. The Royal Bank of Scotland leads the deal, which backs the $17.4 billion acquisition of Albertson's by SUPERVALU, CVS and Cerberus Capital Management. The financing also consists of a $2 billion revolver and a $1.25 billion term loan "A." Pricing is LIBOR plus 1 1/2% on the pro rata and LIBOR plus 1 3/4% on the "B" loan (CIN 5/8). A SUPERVALU spokeswoman did not return calls.
SUPERVALU Term Loan Trades Heavily On Break