PLEASANTON, Calif.,
Oct. 9, 2014 /PRNewswire/
-- Safeway Inc. (NYSE: SWY) ("Safeway") today announced the
results of its consent solicitation (the "Consent Solicitation")
from holders of its 6.35% Senior Notes due 2017 (the "2017 Notes")
with respect to a proposed amendment. Pursuant to the terms of the
Consent Solicitation Statement dated September 22, 2014, as amended by the supplement
dated October 6, 2014, the Consent
Solicitation with respect to the 2017 Notes expired on October 8, 2014.
Safeway received the requisite consents from holders of a
majority in outstanding principal amount of the 2017 Notes. As a
result, Safeway executed a supplemental indenture effecting the
proposed amendment with respect to the 2017 Notes that removed
Safeway's obligation to offer to repurchase the 2017 Notes in
connection with its proposed merger with Albertsons. The consent
fee of $5.00 in cash per $1,000 principal amount of the 2017 Notes will be
paid to the consenting holders of such notes on or before
October 10, 2014.
BofA Merrill Lynch acted as solicitation agent in connection
with the Consent Solicitation and D.F.
King & Co. Inc. acted as information agent for the
Consent Solicitation.
This announcement is for information purposes only and is
neither an offer to sell nor a solicitation of an offer to buy any
security.
About Safeway Inc.
Safeway Inc. is a Fortune 100 company and one of the largest
food and drug retailers in North
America based on sales. Safeway operates 1,331 stores in
the United States and had annual
sales of $35.1 billion in 2013.
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Forward-looking
statements are indicated by words or phrases such as "expects,"
"will," "plans," "intends," "committed to," "estimates" and "is."
No assurance can be given that any of the events anticipated by the
forward-looking statements will transpire or occur. Accordingly,
actual results may differ materially and adversely from those
expressed in any forward-looking statements. Neither Safeway nor
any other person can assume responsibility for the accuracy and
completeness of forward-looking statements. There are various
important factors that could cause actual results to differ
materially from those in any such forward-looking statements, many
of which are beyond Safeway's control. These factors include:
failure to obtain, delays in obtaining or adverse conditions
contained in any required regulatory or other approvals; failure to
consummate or delay in consummating the transactions described
herein for any other reasons; changes in laws or regulations; and
changes in general economic conditions. Safeway undertakes no
obligation (and expressly disclaims any such obligation) to
publicly update or revise any forward-looking statement, whether as
a result of new information, future events or otherwise. For
additional information please refer to Safeway's most
recent Form 10-K, 10-Q and 8-K reports filed with
the Securities and Exchange Commission.
CONTACT: Teena Massingill,
925-467-3810
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SOURCE Safeway Inc.