More Details on the Roundy's Dividend
On Friday we reported that Chicago buyout firm Willis Stein & Partners would take a second dividend on Roundy's, its Midwestern supermarket chain. Today we've learned more details. Willis Stein has used the dividend to take excess capital off Roundy's balance sheet while pushing back debt maturities from 2010 to 2012. Willis Stein will take a dividend on the company worth $75 million. That does not change the company's leverage rate of 3.1x debt-to-Ebitda. Roundy's has $728.5 million in debt and $235 million in Ebitda, a source familiar with the deal said. J.P. Morgan has served as lead arranger on the deal, with participation from Credit Suisse, Bank of America and Rabobank.
3 November 2009•1 min read
