Arranger Goldman Sachs is talking the deal at L+350, with a 1% LIBOR floor and a 99.875 offer price, sources said. The repriced term loan would include six months of 101 soft call protection. In addition to the repricing, the issuer is seeking to remove the loanâs springing maturity to the 2018 bonds. At the time the loan was put in place, the bond issue totaled $1 billion. It has since been reduced to $630 million, and the supermarket concernâs performance has improved, sources said.
The Erie Canal runs across New York State from Albany to Buffalo, connecting the Hudson River to Lake Erie.
The resulting Erie Barge Canal was completed in 1918, and is 12 to 14 feet deep, 120 to 200 feet wide, and 338 miles long, from Waterford to Tonawanda. 36 Locks were built to handle barges carrying up to 3,000 tons of cargo, with lifts of 6 to 40 feet.