Rite Aid Announces Intent to Redeem all of its Outstanding 6.125% Senior Notes Due 2023
Rite Aid Corporation (NYSE: RAD) announced the redemption of all $90.8 million of its 6.125% Senior Notes due 2023, effective May 28, 2021. The redemption price includes the principal amount plus any accrued interest. Funding for this redemption will be sourced from borrowings under Rite Aid's existing credit facility. The Bank of New York Mellon Trust Company, N.A. is handling the notice of redemption for registered holders. This move comes as Rite Aid continues to focus on its healthcare services and retail pharmacy operations across 2,500 locations.
- Rite Aid is redeeming $90.8 million in Senior Notes, improving its balance sheet.
- Redemption funded by existing credit facility may reduce future interest expenses.
- None.
Rite Aid Corporation (NYSE: RAD) today announced that it has issued a notice of redemption (the “Redemption”) for all
A notice of redemption is being mailed to all registered holders of the Notes by The Bank of New York Mellon Trust Company, N.A. Requests for documents relating to the Redemption may be directed to The Bank of New York Mellon Trust Company, N.A., the Paying Agent, at (312) 827-8547.
About Rite Aid Corporation
Rite Aid Corporation is on the front lines of delivering healthcare services and retail products to Americans 365 days a year. Our pharmacists are uniquely positioned to engage with customers and improve their health outcomes. We provide an array of whole being health products and services for the entire family through over 2,500 retail pharmacy locations across 17 states. Through Elixir, we provide pharmacy benefits and services to millions of members nationwide. For more information, www.riteaid.com.
Cautionary Statement Regarding Forward-Looking Statements
Statements in this release that are not historical, are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "predict," "project," "should," and "will" and variations of such words and similar expressions are intended to identify such forward-looking statements.
These forward-looking statements are not guarantees of future performance and involve risks, assumptions and uncertainties, which are described in Item 1A (Risk Factors) of our most recent Annual Report on Form 10-K, in Item 1A (Risk Factors) of our Quarterly Report on Form 10-Q filed on July 2, 2020 and in other documents that we file or furnish with the Securities and Exchange Commission (the “SEC”), which you are encouraged to read. To the extent that COVID-19 adversely affects our business and financial results, it may also have the effect of heightening many of such risk factors.
Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to rely on these forward-looking statements, which speak only as of the date they are made.
Rite Aid expressly disclaims any current intention, and assumes no duty, to update publicly any forward-looking statement after the distribution of this release, whether as a result of new information, future events, changes in assumptions or otherwise.
All references to “Company” and “Rite Aid” as used throughout this release refer to Rite Aid Corporation and its affiliates.
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FAQ
What is the amount of Senior Notes Rite Aid is redeeming?
When is the redemption date for Rite Aid's Senior Notes?
How will Rite Aid fund the redemption of its Senior Notes?
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