Market Overview

Rite Aid Announces Completion of Debt Refinancing Transaction


Rite Aid Corporation (NYSE: 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

Posted-In: News Guidance Financing Contracts Asset Sales Management Global


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