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.
Chemung Canal. Stretching from the head of Seneca Lake at Watkins Glen to the Chemung River at Elmira, NY, this segment of the canal system revived the economy for towns along the south of Seneca and Cayuga Lakes. Finished in 1833, the construction effort resulted in a significant drainage in the swampland at the head of the lake.