PLEASANTON, Calif.,
Jan. 27, 2015 /PRNewswire/
-- Safeway Inc. (NYSE: SWY) ("Safeway") today announced that
it is extending the expiration of its offer to purchase (the
"Offer") any and all of the outstanding series of senior notes
described in the table below (the "Senior Notes"). The Offer
was previously extended on January 22,
2015, after which, it was scheduled to expire at
5:00 p.m., New York City time, on January 27, 2015, and is now being further
extended until 5:00 p.m.,
New York City time, on
January 30, 2015, unless further
extended or withdrawn by Safeway. All other terms and
conditions of the Offer remain as set forth in the Change of
Control Notice and Offer to Purchase dated December 3, 2014.
|
Title of
Security
|
Principal Amount
Outstanding
|
CUSIP
No.
|
|
5.00% Senior Notes
due August 15, 2019
|
$500,000,000
|
786514BR9
|
|
3.95% Senior Notes
due August 15, 2020
|
$500,000,000
|
786514BS7
|
|
4.75% Senior Notes
due December 1, 2021
|
$400,000,000
|
786514BU2
|
The depositary for the Offer has advised Safeway that, as of
5:00 p.m., New York City time, on January 27, 2015, approximately $228,474,000 principal amount, or 45.69% of the
outstanding principal amount, of the 2019 Senior Notes,
$367,658,000 principal amount, or
73.53% of the outstanding principal amount, of the 2020 Senior
Notes and $272,518,000 principal
amount, or 68.13% of the outstanding principal amount, of the 2021
Senior Notes had been validly tendered and not validly withdrawn
pursuant to the Offer. Holders who have already tendered
their Senior Notes do not have to re-tender their Senior Notes or
take any other action as a result of the extension of the previous
expiration date of the Offer and may withdraw tendered Senior Notes
at any time prior to 5:00 p.m.,
New York City time, on
January 30, 2015.
Requests for documents and questions regarding the procedures
for tendering of Senior Notes may be directed to D.F. King & Co. Inc. at (866) 751-6309.
This announcement is for information purposes only and is
neither an offer to sell nor a solicitation of an offer to buy any
security. No recommendation is being made as to whether holders of
Senior Notes should tender their Senior Notes. The offer to
purchase is not being made in any jurisdiction in which, or to or
from any person to or from whom, it is unlawful to make such offer
under applicable state or foreign securities or "blue sky"
laws.
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 1,326 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:
Christiane Pelz (925)
467-3832
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SOURCE Safeway Inc.
