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.
Nearly 80% of upstate New York's population lives within 25 miles of the Erie Canal. The Erie Canal's success was part of a Canal-building boom in New York in the 1820s. Between 1823 and 1828, several lateral Canals opened including the Champlain, the Oswego and the Cayuga-Seneca. Between 1835 and the turn of the century, this network of Canals was enlarged twice to accommodate heavier traffic.