Rite Aid to repay some revolver borrowings with bond proceeds

By Sara Rosenberg

New York, Feb. 9 - Rite Aid Corp. plans to repay some borrowings under its revolving credit facility using proceeds from a $300 million 10-year senior secured notes offering and a $500 million eight-year senior notes offering, according to a company news release.

Bond proceeds will also be used to redeem all $300 million of 9½% senior secured notes due February 2011 and all $185 million of 7 1/8% senior unsecured notes due January 2007, and for general corporate purposes.

Rite Aid is a Camp Hill, Pa., national drugstore chain.

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