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Legal News

Supervalu Completes Banner Sale to Cerberus-Led Private Equity Consortium

Date: 03/21/13

Cahill represented Bank of America, N.A. as administrative agent and represented the lead arrangers in connection with a $850,000,000 asset-based revolving credit facility for Albertson’s LLC and a $400,000,000 asset-based revolving credit facility for New Albertson’s, Inc.  Cahill also represented the issuing bank in connection with a $125,000,000 letter of credit facility for New Albertson’s, Inc.

Cahill represented Citibank, N.A. as administrative agent and represented the lead arrangers in connection with a $1,150,000,000 term B loan for Albertson’s LLC. 

The loan proceeds were used in connection with a Cerberus Capital Management led private equity consortium’s $3.3 billion acquisition of Supervalu’s Albertsons, Acme, Jewel-Osco and Shaw's supermarkets and related Osco and Sav-on in-store pharmacies.

Cahill also represented the dealer manager in connection with the consortium’s tender offer for up to 30 percent of Supervalu’s outstanding common stock.