Latham & Watkins Advises Initial Purchasers in Southeastern Grocers, Inc.’s US$325 Million Senior Secured Notes Offering

Southeastern Grocers, Inc. (SEG), parent company and home of BI-LO, Fresco y Más, Harveys Supermarket, and Winn-Dixie grocery stores, and one of the largest conventional supermarket companies in the U.S., has announced that its indirect wholly-owned subsidiaries SEG Holding, LLC and SEG Finance Corp. have priced an offering of US$325 million aggregate principal amount of 5.625% Senior Secured Notes due 2028. The Notes will be issued at an issue price of 100%. Interest on the Notes will accrue at a rate of 5.625% per annum, and will be payable semi-annually in arrears on every April 15 and October 15, commencing April 15, 2021. The offering of the Notes is expected to close on October 9, 2020, subject to customary closing conditions.

Latham & Watkins LLP represented the initial purchasers in the offering with a capital markets team led by New York partners Stelios Saffos and Andrew Baker, with associates Brittany Ruiz, Jessi Lim, and James Dorian. Advice was also provided on collateral matters by New York partner Nicole Fanjul, with associate Carlos Ibarguengoitia; on tax matters by New York partner Lisa Watts, with associate Eric Kamerman; on benefits and compensation matters by Los Angeles/Century City partner Larry Seymour, with associate Leah Segall; and on real estate matters by New York counsel Shira Bressler.