Supervalu Inc. announced that it is cutting 700 positions at Shaw's stores throughout New England, two weeks after it posted a second quarter loss. The supermarket giant announced that the job cuts will take place at 169 Shaw's and Star Market stores.

SUPERVALU Inc. has successfully completed the refinancing of its existing $1.5 billion senior secured term loan agreement. The amendment reduces the interest rate margin from 5.0% to 4.0% and reduces the LIBOR floor from 1.25% to 1.00% for LIBOR based loans. The amendment also expands the ability to increase the term loan, subject to a secured leverage test, by up to $500 million (previously $250 million). The maturity date of the term loan remains March 2019. Since the term loan was refinanced within the first year of its inception, the company paid the existing term loan lenders a 1% refinancing premium per the terms of the loan agreement. The amendment also includes certain other non-material changes.

SUPERVALU Inc. announced the private offering of $400 million aggregate principal amount of its senior notes due 2021. The notes will be offered only to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended and outside the United States in accordance with Regulation S under the Securities Act. The company intends to use the net proceeds of the private placement in connection with the previously announced tender offer by the company for its 8.000% Senior Notes due 2016. The notes will not be registered under the Securities Act or under any state securities laws. Therefore, the Company may not offer or sell the notes within the United States to, or for the account or benefit of, any United States person unless the offer or sale would qualify for a registration exemption from the Securities Act and applicable state securities laws.