Rite Aid launches $1.75 billion revolver

By Sara Rosenberg

New York, Sept. 13 - Rite Aid Corp. held a call on Tuesday afternoon to launch its proposed $1.75 billion five-year revolving credit facility, according to a market source.

Citigroup and JPMorgan are the lead banks on the deal, with Citigroup the left lead.

The revolver is talked at Libor plus 150 basis points with a 25 basis point undrawn fee, the source said.

Proceeds will be used by the Camp Hill, Pa., drugstore chain to take out the existing term loan and refinance existing debt.

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