A&P to Raise $380 Million in Debt Offering
Dec 11, 2007 8:00 AM
MONTVALE, N.J. — A&P here said it will raise $380 million through the sale of convertible notes to help pay for its recently completed acquisition of Pathmark. The notes, consisting of $150 million in notes due in 2011, and $230 million in notes due 2012, would repay a bridge loan used in the purchase of Pathmark. The notes are convertible to A&P stock or a combination of stock and cash at the company’s discretion. A&P plans to give the underwriters options to buy up to an additional $15 million of notes due 2011 and $25 million of notes due 2012 to cover over-allotments.
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