A&P completes senior debt financing on favorable terms
SEAFOODNEWS.COM [Supermarket News] - September 19, 2014 -
A&P, Montvale, N.J., said Thursday it has completed a refinancing of its existing senior debt — a covenant-free arrangement the company said “provides for a significant reduction in interest expense and enhanced liquidity and reflects the debt market’s confidence in [its] ongoing progress and prospects for future growth.”
The company said the enhanced capital structure “is the latest indication of [its] improved business fundamentals.”
According to Paul Hertz, president and CEO of the 300-store chain, the refinancing was done “on attractive terms that reduce our borrowing costs and provide greater operational and financial flexibility [that] puts the company in a much stronger...
To Read Full Story Login Below.