PJ SOLOMON Advised Save A Lot on its Successful Recapitalization and Refinancing

PJ SOLOMON’s Debt Advisory & Restructuring and Grocery & Restaurants groups served as financial advisor to Save A Lot, the US discount grocer, on its successful recapitalization and refinancing.

Under the terms of the agreement, which was supported unanimously by all constituents, the Company has completed debt-for-equity and debt-for-debt exchanges that eliminated ~$500 million in debt and provided an infusion of $350 million in new capital from a combination of new and existing lenders to support its operations and acceleration of its transformation plan.

The PJ SOLOMON team was led by Restructuring expert Mark Hootnick, Scott Moses from Grocery & Restaurants and Head of Financing Advisory, Joe Stein, as well as Joshua Heft, Jay Kim, Jacob Laufer and Grant Kaufman.

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