Rite Aid sets June 15 redemption for remaining $108.73 million notes

By Ashley Montgomery

Kansas City, Kan., May 18 - Rite Aid Corp. will redeem all of its outstanding $108,731,000 of 9 3/8% senior notes due Dec. 15, 2015, according to a notice.

The notes will be redeemed June 15 at 102.344.

As previously reported, the company announced a tender offer ending May 31 for the notes. As of the consent deadline on May 14, holders had tendered $296.3 million, or 73.2%, of the notes.

The purchase price in the tender offer is $1,028.75 per $1,000 principal amount, which includes a consent payment of $30.00 for notes tendered by the consent deadline.

Bank of New York Mellon is the agent.

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

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