Ralphs Supermarkets Inc. will have to pay a higher interest rate on a new $470 million bank loan, following the cancellation last week of a proposed stock offering.

The bank financing, led by Bankers Trust Co., was conditioned on Ralphs' ability to raise at least $70 million through an initial public offering of stock. Ralphs pulled the offering last Tuesday, citing weak market conditions, but said it wanted to proceed with other aspects of a broad recapitalization.

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