Rite Aid Announces Completion of Debt Refinancing Transaction

Rite Aid Corporation RAD today announced the completion of a portion of its previously announced debt refinancing transactions that extends the maturity on a portion of Rite Aid's outstanding indebtedness and lowers interest expense. The completed refinancing transaction consisted of a cash tender offer for any and all of Rite Aid's $500.0 million aggregate principal amount of 7.5% Senior Secured Notes due 2017 that is being funded with the net proceeds from a new $500.0 million second lien term loan, together with available cash and/or borrowings under Rite Aid's revolving credit facility. As part of the tender offer, Rite Aid solicited consents for amendments that would eliminate or modify certain covenants, events of default and See full press release