April 21st, 2010
Lim Ruger has successfully closed a $11.7 million financing transaction for one of the largest independently owned supermarket chains in Southern California. The “blend and extend” financing involves the replacement of notes scheduled to mature next year with notes that mature in 2020 and includes $4.5 million in new financing. The real estate on which the supermarket chain operates its stores is owned by affiliates of the chain. The notes were issued by the affiliates and purchased by a group of holders, with a major life insurance company acting as collateral agent. Lim Ruger attorneys John Lim and James Ho represented the supermarket chain and its affiliates.