Walgreen (WAG), CVS (CVS) Move Higher on Rite Aid (RAD) Guidance

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Go back to Walgreen (WAG), CVS (CVS) Move Higher on Rite Aid (RAD) Guidance

Rite Aid (RAD) Enters Refi; Guides Q1 EPS Above Views

June 7, 2013 9:07 AM EDT

Rite Aid Corporation (NYSE: RAD) today announced that it has commenced a debt refinancing transaction that would extend the maturity of a portion of Rite Aids outstanding indebtedness and lower interest expense. The refinancing transaction consists of a cash tender offer for any and all of Rite Aids $500.0 million aggregate principal amount of 7.5% Senior Secured Notes due 2017 with the proceeds from a new $500.0 million second lien term loan, together with available cash and/or borrowings under Rite Aids revolving credit facility.

As part of the tender offer, Rite Aid is soliciting... More