NEW PRODUCTS
St. Jude Medical Inc., Little Canada, announced CE Mark approval of its Ilumien Optis PCI Optimization System, a new technology designed to provide physicians with a comprehensive disease assessment tool for treating patients with coronary artery disease.
NEW BUSINESS
Winmark Corp., Minnetonka, has awarded eight franchise agreements for its new women's resale concept, Style Encore.
DEBT AND EQUITIES
Supervalu Inc., Eden Prairie, said that more than $372 million of its outstanding 8 percent senior notes due 2016 were validly tendered and not validly withdrawn. The previously announced modified "Dutch auction" tender offer called for the purchase up to $300 million of the 8 percent senior notes. Supervalu also announced the private offering of $400 million of its senior notes due 2021. The notes will be offered only to qualified institutional buyers. The company intends to use the net proceeds of the private placement in connection with the previously announced tender offer for its 8 percent senior notes due 2016. Supervalu also said it has successfully completed the refinancing of its existing $1.5 billion senior secured term loan agreement. The amendment reduces the interest rate margin to 4 percent from 5 percent. The amendment also expands the ability to increase the term loan, subject to a secured leverage test, by up to $500 million. The maturity date of the term loan remains March 2019.
