March 27, 2018 / 6:56 AM / a month ago

BRIEF-Southeastern Grocers Commences Previously Announced Restructuring

March 27 (Reuters) -

* SOUTHEASTERN GROCERS COMMENCES PREVIOUSLY ANNOUNCED RESTRUCTURING WITH 100% SUPPORT OF CREDITORS AND INTEREST HOLDERS THAT HAVE VOTED

* SOUTHEASTERN GROCERS - 2014 REVOLVING CREDIT FACILITY AND SENIOR SECURED NOTES DUE FEBRUARY 2019 TO BE FULLY REFINANCED

* SOUTHEASTERN GROCERS SAYS ‍RESTRUCTURING WILL DECREASE OVERALL DEBT LEVELS BY OVER $500 MILLION​

* SOUTHEASTERN GROCERS - COMMENCES PRE-PACKAGED CHAPTER 11 CASES TO EFFICIENTLY EXECUTE RESTRUCTURING MORE THAN 580 OF SEG’S ICONIC, HERITAGE BANNERS

* SOUTHEASTERN GROCERS- ALL SENIOR PIK TOGGLE NOTES DUE SEPTEMBER 2018 TO CONVERT TO EQUITY EXIT FINANCING FULLY COMMITTED

* SOUTHEASTERN GROCERS - SECURED 100% COMMITTED EXIT FINANCING IN FORM OF A SENIOR SECURED SIX-YEAR TERM LOAN FACILITY IN ORIGINAL PRINCIPAL AMOUNT OF $525 MILLION​

* SOUTHEASTERN GROCERS - ALL GENERAL UNSECURED CLAIMS, INCLUDING SUPPLIER PARTNERS AND TRADE CREDITORS, TO BE PAID IN FULL IN ORDINARY COURSE Source text for Eikon: (Reuters.Briefs@thomsonreuters.com)

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