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Rite Aid takes in $48.68 million of notes in asset sale tender offer
New York, April 2 – Rite Aid Corp. received tenders for $48.68 million of notes in its asset sale tender for up to $900 million of its 9¼% senior notes due 2020, its 6¾% senior notes due 2021 and its 6 1/8% senior notes due 2023, according to a press release.
Holders tendered $3,454,000, or 0.38%, of the $902 million of 2020 notes outstanding, $3,471,000, or 0.43%, of the $810 million of the 2021 notes outstanding and $41,751,000, or 2.32%, of the $1.8 billion of the 2023 notes outstanding.
The offer ended at 5 p.m. ET on March 29.
In each case, the purchase price will be par plus accrued interest to the purchase date.
As announced on Feb. 27, the offer is being funded by a portion of the net cash proceeds received to date from the previously announced sale to Walgreens Boots Alliance, Inc. of 1,932 stores, three distribution centers and related inventory for an all-cash purchase price of $4,375,000,000 on a cash-free, debt-free basis.
As previously announced, Rite Aid also issued a redemption notice for the 9¼% notes and will repay this debt on April 12 at par plus accrued interest up to but excluding the redemption date.
Rite Aid is a drugstore chain based in Camp Hill, Pa.
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