RAD offers Senior Notes $400M
News for 'RAD' - (Rite Aid Announces Offering of Senior Notes as Part of a Refinancing of Certain of Its Outstanding Indebtedness)
CAMP HILL, Pa., Jun 17, 2013 (BUSINESS WIRE) -- Rite Aid Corporation (NYSE:
RAD) announced today its intention to offer $400.0 million aggregate principal
amount of a new series of senior notes due 2021 (the
"Notes"). The Notes will be
unsecured, unsubordinated obligations of Rite Aid Corporation and will be
guaranteed by substantially all of Rite Aid's
subsidiaries.
Rite Aid intends to use the net proceeds of the offering of the Notes, together
with available cash and/or borrowings under Rite
Aid's revolving credit facility, to redeem a
corresponding amount of its outstanding 9.5% senior notes due 2017. Rite
Aid's results of operations, including net income and
earnings per share, and guidance could be affected by fees, expenses and charges
related to the refinancing transactions.
The Notes and the related subsidiary guarantees will be offered in the United
States to qualified institutional buyers pursuant to Rule 144A under the
Securities Act of 1933, as amended (the "Securities
Act"), and outside the United States pursuant to
Regulation S under the Securities Act. The Notes and the related subsidiary
guarantees have not been registered under the Securities Act and may not be
offered or sold in the United States without registration or an applicable
exemption from the registration requirements.
This press release shall not constitute an offer to sell or the solicitation of
an offer to buy, nor shall there be any sale of Notes in any jurisdiction in
which such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such jurisdiction.
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