Kroger Enters Into Amendment to Credit Agreements; Updates Terms Following Merger Announcement

On October 8, 2024, The Kroger Co. announced significant updates to its credit agreements through two key amendments. The first, referred to as the RCF Amendment, pertains to the Revolving Credit Agreement. This amendment alters the definition of the “Acorn Closing Date Additional Commitment Termination Date” under the Revolving Credit Agreement. It specifically affects the additional $2.25 billion commitments meant to be accessible upon the closure of the upcoming merger between a Kroger subsidiary and Albertsons Companies, Inc.

The second amendment, known as the Term Loan Amendment, adjusts the Term Loan Credit Agreement. It modifies the definition of the “Commitment Termination Date” to ensure that the commitments outlined in the Term Loan Agreement remain valid even after the “Outside Date” as stipulated in the Merger Agreement.

It is worth noting that certain parties involved in these amendments, along with their affiliates, provide various financial services to Kroger. These amendments aim to realign and secure financial commitments in light of the impending merger.

For further details on these amendments, the full texts of the RCF Amendment and the Term Loan Amendment have been filed as Exhibits 10.1 and 10.2, respectively.

In related news, Kroger submitted this information in a Form 8-K filing with the Securities and Exchange Commission. For more comprehensive information, the complete details can be accessed in the filings available through the SEC’s database.

The article does not contain detailed financial information. For further inquiries into the financial specifics related to the Amendments, readers are encouraged to explore the filed documents for a deeper understanding of Kroger’s financial restructuring.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Kroger’s 8K filing here.

About Kroger

The Kroger Co operates as a food and drug retailer in the United States. The company operates combination food and drug stores, multi-department stores, marketplace stores, and price impact warehouses. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; and multi-department stores provide apparel, home fashion and furnishings, outdoor living, electronics, automotive products, and toys.