Homeland Stores, Oklahoma City, last week began its financial restructuring, slated to be finished by midsummer. Its $95 million of senior secured bonds outstanding will be canceled, and bondholders will get $60 million face amount of new senior subordinated notes and $1.5 million cash. Bondholders and Homeland's general unsecured creditors will get about 60% and 35%, respectively, of the revamped company's equity. Homeland's existing equity holders will get 5% of the new equity plus options ...

REGISTER TO VIEW THIS ARTICLE - Register for a Free Account

Why Register for FREE?

Registering for content on Supermarket News will give you INSTANT access to invaluable articles and media content that industry professionals rely on. You will have access to our special reports, feature articles, and industry analysis. It’s FREE, easy and quick.  What are you waiting for! In addition you will also receive a complimentary copy of SN's salary survey sent to you by email.
 

Click here to read the FAQ page if you have any questions (opens in a new window)
 

Attention Paid Print Subscribers:  While you have already been granted free access to SN we ask that you register now. We promise it will only take a few minutes! Or visit your profile and add your print magazine account number and zip code.

Already registered? here.