Rite Aid gets tenders for 0.17% of 2021 notes, 0.27% of 2023 notes

By Marisa Wong

Morgantown, W.Va., May 22 – Rite Aid Corp. said it received and accepted for purchase tenders for $1.36 million, or 0.17%, of its 6¾% senior notes due 2021 and $4,759,000, or 0.27%, of its 6 1/8% senior notes due 2023.

The company will purchase the notes at par plus accrued interest up to the payment date.

The cash tender offer for up to $700 million of the 6¾% notes due 2021 and 6 1/8% notes due 2023 began on April 19 and expired at 5 p.m. ET On May 21.

There was $806,529,000 of the 6¾% notes and $1,758,249,000 of the 6 1/8% notes outstanding at the start of the offer.

Had the amount of notes tendered exceeded $700 million, Rite Aid would have purchased notes on a pro rata basis, both by series and within each series.

Rite Aid previously said it plans to fund the repurchase using a portion of the proceeds from its 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 about $4.38 billion on a cash-free, debt-free basis.

Bank of New York Mellon Trust Co., NA (315 414-3349) is the depositary and paying agent.

Rite Aid is a drugstore chain based in Camp Hill, Pa.

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