Rite Aid issues $481 million in senior notes to refinance debt
CAMP HILL, Pa. — Rite Aid is offering $481 million in eight-year senior notes to refinance debt that is scheduled to be due in three years, the retail pharmacy chain said Tuesday.
Rite Aid said it would use money from the offering to pay interest and other expenses related to a tender offer announced Tuesday for all outstanding 8.625% senior notes due 2015. The price includes the $459 million principal plus a 2.625% premium. The new notes are being offered at a 9.25% interest rate.
Guggenheim Partners analyst John Heinbockel noted that this was the first time Rite Aid had been able to tap the unsecured debt market in five years, calling it a "positive" that would reduce refinancing risk.
Shares of Rite Aid were up 9 cents and trading at $1.55 on the New York Stock Exchange following the news Tuesday morning.
Zak introduces ChillPak containers
SPOKANE, Wash. — Zak Designs has introduced a new line of food and snack containers.
Zak said its ChillPak containers are designed to keep items cool and fresh. Available in a 26-oz. square container, which is sized for sandwiches or other larger meal items, and a 13.oz. snack container, each of the ChillPak containers include one of Zak’s patented ColdHold freezer packs.
Zak ChillPak containers also are available in an assortment of licenses, including Disney Princess, Cars, Spider-Man Classic, Hello Kitty, Minnie Mouse and Disney Fairies.
Cesar expands canine cuisine offering
FRANKLIN, Tenn. — Cesar is adding two new flavors of dog food to its portfolio.
The company has introduced new Cesar original pate smoked BBQ chicken flavor meal and Cesar Sunrise scrambled egg and sausage flavor breakfast. The new flavors were developed in response to an unique opportunity that offered consumers the ability to design a delicious dish to satisfy even the most particular palettes, Cesar said.
"At the Cesar, we know dog lovers want to provide quality products for their best friends," Cesar director Tierney Monaco said. "Dog lovers know their pets best, so who better to choose our next two flavors?"