Rite Aid has refinanced a $343 million tranche three term loan with a new loan for the same amount. The U.S. drugstore chain operator’s new tranche five term loan is set to mature in March 2018. The Pennsylvania-based company’s new loan will have a seven-year maturity. The maturity can be Dec. 1, 2014, if Rite Aid does not repay its outstanding 8.625% senior notes due 2015 prior to that time or Sept. 16, 2015, if it does not refinance its outstanding 9.375% senior notes due 2015.
Click here for the release from Business Wire.