Rite Aid amends facility to lift borrowing capacity, extend maturity

By Jennifer Chiou

New York, Jan. 13 – Rite Aid Corp. announced the amendment and extension of its existing senior secured credit facility, which increased the borrowing capacity to up to $3 billion, or up to $3.7 billion when the company repays its 8% senior secured notes due 2020.

The company also said it extended the maturity to January 2020.

According to a news release, Rite Aid used borrowings under the amended facility to repay and retire all $1,147,000,000 outstanding under its tranche 7 senior secured term loan due 2020, along with associated fees and expenses.

Wells Fargo Capital Finance acted as syndication agent and a joint lead arranger and joint bookrunning manager with Citicorp North America, Inc. as administrative agent and joint lead arranger and joint bookrunning manager.

Merrill Lynch, Pierce, Fenner & Smith Inc., GE Capital Markets, Inc., Goldman Sachs Bank USA, Credit Suisse Securities (USA) LLC and MUFG Union Bank, NA were the joint lead arrangers and joint bookrunning managers, the release noted.

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

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