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RALPHS SUPERMARKETS ANNOUNCES FUNDING OF RALPHS GROCERY COMPANY RECAPITALIZATION

 RALPHS SUPERMARKETS ANNOUNCES FUNDING
 OF RALPHS GROCERY COMPANY RECAPITALIZATION
 LOS ANGELES, July 30 /PRNewswire/ -- Ralphs Supermarkets, Inc., the parent of Ralphs Grocery Company, today announced the funding of the Ralphs Grocery Company recapitalization. Completion of the plan will reduce interest expense and provide additional financial flexibility.
 The recapitalization included a tender offer for $400 million 14 percent Subordinated Debentures, a new issue of $300 million in 10.25 percent Senior Subordinated Notes and a new $470 million bank facility.
 According to chairman and chief executive officer Byron Allumbaugh, "Accomplishing this recapitalization is a major achievement for the company."
 Allumbaugh continued, "The reduced interest costs and flexibility in the financial area are welcome. With the recapitalization finalized, Ralphs will have the capital for growth and expansion in future years."
 Founded in 1873, Ralphs Grocery Company, a leading supermarket in Southern California, operates 157 stores.
 -0- 7/30/92
 /CONTACT: Jan Charles Gray (media), 310-637-7791, or Alan J. Reed (investor) 310-605-4516 or Linda Schwab (investor) 310-605-4712, all of Ralphs Grocery Company/ CO: Ralphs Supermarkets, Inc.; Ralphs Grocery Company ST: California IN: REA SU: RCN


AW-JB -- LA020 -- 5135 07/30/92 13:23 EDT
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Publication:PR Newswire
Date:Jul 30, 1992
Words:191
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