Albertsons to issue new debt

Albertsons Cos. said Thursday it would issue $750 million in new debt with the intention of repaying outstanding borrowings.

The Boise, Idaho-based retailer said it would use the proceeds to repay $240 million in outstanding borrowings under its senior secured asset-based facility and to repay around $500 million outstanding under its existing term loan facility. Albertsons said it would use additional proceeds for general corporate purposes which may include capital expenditures, working capital and potential acquisitions.