Albertsons Companies, Inc. 8-K

What Happened

• Albertsons Companies, Inc. and certain subsidiaries issued $1,200 million of 5.625% senior notes due 2032 and $900 million of additional 5.750% senior notes due 2034 on February 2, 2026 (total $2.1B). The 2034 Notes were issued under the same indenture as notes issued November 10, 2025. The offerings were sold to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S.

Key Details

• Use of proceeds: repay in full $1,350M of 4.625% notes due Jan 15, 2027 and $750M of 5.875% notes due Feb 15, 2028; remaining proceeds to cover fees and expenses.
• Maturities & interest: 2032 Notes mature March 31, 2032 (5.625%), interest semiannually Jan 15/Jul 15 beginning Jul 15, 2026; 2034 Notes mature March 31, 2034 (5.750%), interest semiannually May 15/Nov 15 beginning May 15, 2026.
• Security & guarantees: Notes are unsecured and guaranteed on a senior unsecured basis by the company’s domestic subsidiaries that are obligors under its asset-based revolving credit facility (excludes the issuing subsidiary co‑issuers).
• Key terms: make-whole and step-down redemption prices apply before specified dates; holders have a 101% repurchase right plus accrued interest on a qualifying change of control with a ratings event.

Why It Matters

• This transaction refinances near-term debt coming due in 2027–2028 and extends maturities to 2032 and 2034, reducing near-term refinancing risk. Retail investors should note the company locked in fixed coupons of 5.625% and 5.750%, which affect future interest expense and cash interest obligations. The notes are unsecured and sold to institutional investors (not registered for public resale), and they include customary covenants, redemption features and a change-of-control put that can influence credit and liquidity outcomes.