Harris Teeter Parent Inks New $450 Million Credit Pact

MATTHEWS, N.C. — Ruddick Corp. here, the parent of the Harris Teeter supermarket chain, yesterday said it has entered a new, $450 million credit agreement with a consortium of banks. The new agreement calls for the banks to offer a $350 million, five-year revolving credit facility and a $100 million term loan due Dec. 20, 2012. The credit facility includes the option for a $100 million increase and two one-year options to extend the maturity, both requiring the consent of the lenders. The company said it has retired a previous $350 million credit facility with Wachovia Bank.

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