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.
In the early 1800s, most Americans moved themselves and their goods by water, rather than on the nationâs rough, limited roads. To extend the waterâs reach into the nationâs interior, they began decades of canal building. The Erie Canal was the nationâs most successful example. Built between 1817 and 1825 to link Lake Erie to the Hudson River and New York City, the canal brought together goods and people from across New York State and from the far reaches of the Great Lakes.