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
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