06:46 AM EDT, 08/16/2024 (MT Newswires) -- Kroger ( KR ) said late Thursday it began offering up to $7.44 billion of new notes and cash through private exchanges with some eligible holders of outstanding notes issued by Albertsons ( ACI ) and its affiliates.

Kroger ( KR ) said it is targeting 24 series of Albertsons ( ACI )-issued notes and debentures due up to 2037.

The exchange offers come amid a pending $24.6 billion merger between Kroger ( KR ) and Albertsons ( ACI ). Each offer will expire at 5 p.m. ET on Sept. 13 and settlement will be after the proposed merger closes, which is expected to occur in Q4, Kroger ( KR ) said.

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