Kroger Co. (KR) announced on Thursday that it has extended the expiration date for its previously declared offers to exchange any and all outstanding notes of Albertsons Companies, Inc. (ACI), including New Albertsons, L.P., Safeway Inc., Albertson's, Albertsons Safeway, and American Stores Company. This exchange involves issuing up to approximately $7.4 billion in new notes by Kroger and cash.
Furthermore, Kroger has extended the expiration date for the related consent solicitations to adopt certain proposed amendments to the indentures governing the ACI Notes, specifically for the Unconsented Series. The new expiration date has been moved from September 27 to October 3.
Kroger anticipates that the settlement of the exchange offers and consent solicitations will take place shortly after the new expiration date, coinciding with the closing date of its merger with Albertsons, which is expected to conclude in the fourth quarter.
As of now, Kroger's stock is down 0.46 percent, trading at $56.35 on the New York Stock Exchange.
