WILLIAMSVILLE, N.Y. — Tops Friendly Markets here last week expanded its borrowing capacity and extended the maturity date on its debt through a $275 million bond offering, according to local reports. Tops, which was acquired by Morgan Stanley Private Equity and other investors two years ago, will use the proceeds to pay a $105 million dividend to it ownership, according to The Buffalo News. The $275 million in senior secured notes, with a coupon rate of 10.13%, mature in 2015, the ...
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.
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.