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Rite Aid plans to price $400 million eight-year notes on Tuesday
By Paul A. Harris
Portland, Ore., June 17 - Rite Aid Corp. plans to price a $400 million offering of eight-year senior notes (existing ratings Caa2/CCC) on Tuesday, according to a syndicate source.
Citigroup Global Markets Inc., BofA Merrill Lynch, Wells Fargo Securities LLC, Goldman Sachs & Co. and Morgan Stanley & Co. LLC are the joint bookrunners.
The Rule 144A and Regulation S with registration rights notes become callable in three years at par plus 75% of the coupon and feature a 101% poison put.
The Camp Hill, Pa.-based drugstore chain plans to use the proceeds to repay a portion of its 9½% notes due June 15, 2017.
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