SUPERVALU INC. has  successfully completed the refinancing of its existing $1.5 billion senior secured term loan agreement. The amendment reduces the interest rate margin from 5.0 percent to 4.0 percent and reduces the LIBOR floor from 1.25 percent to 1.00 percent for LIBOR based loans. The amendment also expands the ability to increase the term loan, subject to a secured leverage test, by up to $500 million (previously $250 million). The maturity date of the term loan remains March 2019. Since the term loan was refinanced within the first year of its inception, the Company paid the existing term loan lenders a 1 percent refinancing premium per the terms of the loan agreement. The amendment also includes certain other non-material changes.

Credit Suisse and Goldman Sachs Bank USA acted as joint lead book-runners and joint lead arrangers while Morgan Stanley, Bank of America Merrill Lynch and Barclays acted as co-managers on the amendment.

SUPERVALU INC. is one of the largest grocery wholesalers and retailers in the U.S. with annual sales of approximately $17 billion.