Rite Aid Corp. has more than doubled a debt offering initiated this week.


Rite Aid, debt offering, senior notes due in 2021, drug chain, refinancing, tender offer, senior notes due in 2017








































































































































































































































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Debt offering upsized by Rite Aid

June 18th, 2013

CAMP HILL, Pa. – Rite Aid Corp. has more than doubled a debt offering initiated this week.

The company said late Tuesday it's now offering $810 million of 6.75% unsecured senior notes due in 2021, $410 million more than a senior notes offering announced Monday.

Rite Aid said it aims to use the proceeds plus available cash and/or borrowings under its credit revolver to fund a cash tender offer to buy its outstanding $810 million in 9.5% senior notes due in 2017. The drug chain plans to call for redemption any of the 9.5% senior notes not tendered.

The new notes offering is slated to close on July 2, subject to customary closing conditions.

In another refinancing move earlier in June, Rite Aid commenced a cash tender offer for $500 million of 7.5% senior secured notes due in 2017.

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