Safeway inks new $1.5 billion revolving credit agreement

Pleasanton, Calif. -- Safeway said Tuesday it has signed a new $1.5 billion revolving credit agreement that replaces a $1.6 billion facility.

The new agreement is for four years, while the one it is replacing was set to mature on June 1, 2012.

Safeway said that its Canadian subsidiary can borrow up to $250 million from the new facility, which will be used for general corporate purposes.