Rite Aid (RAD) Could 'Sling-Shot' 22% Higher on Debt Refi - Analyst
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Rite Aid (RAD) Moves Higher After Announcing Debt Refinancing
February 1, 2013 8:42 AM ESTRite Aid Corporation (NYSE: RAD) stock moved higher after it announced that it has commenced a series of debt refinancing transactions that would extend the maturity of a portion of Rite Aid's outstanding indebtedness and lower interest expense. The refinancing transactions are expected to include:
*the amendment and restatement of Rite Aids existing revolving credit facility;
*the refinancing of Rite Aids $1.039 billion Tranche 2 Term Loan due 2014 with the proceeds of a new term loan, together with borrowings under the amended revolving credit facility; and
*cash tender offers for Rite Aids... More
