06:02 PM EDT, 08/20/2024 (MT Newswires) -- Kroger ( KR ) said late Tuesday it priced $10.5 billion of notes in seven tranches, all at 99% of par or higher.

The offering includes $1 billion of 4.7% senior notes due 2026 at 99.996% of par, $1 billion of 4.6% senior notes due 2027 at 99.98%, $1.4 billion of 4.650% senior notes due 2029 at 99.895%, $1.3 billion of 4.9% senior notes due 2031 at 99.961%, $2.2 billion of 5% senior notes due 2034 at 99.747%, $2.1 billion of 5.5% senior notes due 2054 at 99.588%, and $1.5 billion of 5.65% senior notes due 2064 at 99.555% of par.

The offering is expected to settle on Aug. 27.

The company expects to use the net proceeds to pay a portion of the cash consideration for its proposed merger with Albertsons Companies.

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