Rite Aid to refinance $400 million worth of debt

Retail pharmacy chain currently carries about $6 billion in debt

CAMP HILL, Pa. — Rite Aid announced Monday a new debt-refinancing plan, the second such plan in two weeks.

The company announced that it would offer for sale a new series of senior notes due 2021 worth $400 million, which would be unsecured, unsubordinated obligations of Rite Aid Corp. and would be guaranteed by the company. The retailer said on June 7 that it would purchase $500 million worth of 7.5% senior notes due 2017.

Proceeds from the offering will be used to redeem $400 million of the company's outstanding 9.5% senior notes due 2017.

Rite Aid's debt currently stands at about $6 billion, according to the company's 2013 annual report.

Are you a nurse practitioner or physician's assistant? Join our Facebook group to get all the latest news dedicated to delivering healthcare services to patients in retail pharmacy clinics.

Login or Register to post a comment.