<p> Kroger is planning a four-part benchmark debt sale to help fund its $2.4 billion purchase of Harris Teeter.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> Typically, benchmark debt is at least $500 million. Although terms are not yet set, the operator of the Kroger and Ralphs supermarkets may sell three-, five-, and seven-year fixed-rate notes. It may also issue three-year, floating-rate securities, according to Bloomberg.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> Harris Teeter CEO Thomas Dickson said that his company pursued a sale of tightening competition in the grocery industry, with particular pressure from Walmart. He was quoted as saying, “The competitive landscape in the retail food industry has changed dramatically in the last 30 years.” According to the Charlotte Observer, 72% of Harris Teeter shareholders approved “golden parachute” compensation packages for the company’s top executives. Dickson, in particular, would be eligible for a $262,500 bonus for getting the deal completed. He would also be paid approximately $16 million in cash, stock, and perks.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> Last October, Kroger announced that it hopes to complete the acquisition within the fourth quarter of this year.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> Stay tuned to AndNowUKnow as we continue our coverage on Kroger’s acquisition of Harris Teeter. </p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href=" http://www.businessweek.com/news/2013-12-16/credit-default-swaps-in-u-dot-s-dot-fall-kroger-plans-benchmark-sale" target="_new"> Bloomberg </a></p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href="http://www.charlotteobserver.com/2013/10/03/4361421/harris-teeter-shareholders-set.html#.Uk2kE4ZJOTg" target="_new"> Charlotte Observer</a></p><hr class="legacyRuler"><hr class="invisible minimal-padding">
