Rite Aid Commences Offer to Purchase Certain of its Outstanding Series of Notes
Rite Aid Corporation (RAD)
Last rite aid corporation earnings: 4/16 07:00 am
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US:NYSE Investor Relations:
riteaid.com/corporate/investor-relations
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Source: Business Wire
CAMP HILL, Pa.--(BUSINESS WIRE)-- Rite Aid Corporation (NYSE: RAD) today announced that it has commenced an offer to purchase for cash (the “Asset Sale Offer”) up to $700,000,000 of certain of its outstanding indebtedness, consisting of its 6.75% Senior Notes due 2021 and 6.125% Senior Notes due 2023 (collectively, the “Notes”), with a portion of the net cash proceeds received from its previously announced sale to Walgreens Boots Alliance, Inc. of 1,932 stores, three distribution centers and related inventory for an all-cash purchase price of $4.375 billion on a cash-free, debt-free basis. The Asset Sale Offer is being made pursuant to the indentures governing the Notes (collectively, the “Indentures”) and an Offer to Purchase, dated April 19, 2018 and related Letter of Transmittal, which more fully set forth the terms and conditions of the Asset Sale Offer. The Asset Sale Offer will expire at 5:00 P.M.,
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