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Rite Aid Announces Increase in Tender Offer Price and Extension

Nachrichtenquelle: Business Wire (engl.)
29.10.2019, 13:00  |  140   |   |   

Rite Aid Corporation (NYSE: RAD) (“Rite Aid” or the “Company”) today announced that it has increased the offer price and extended the early tender premium for its previously announced cash tender offers (the “Tender Offers”) to purchase up to $100 million aggregate principal amount of its outstanding 7.70% Senior Notes due 2027 (“2027 Notes”) and 6.875% Senior Notes due 2028 (the “2028 Notes” and together with the 2027 Notes, the “Notes”).

Under the new terms of the Tender Offers, (i) the Total Consideration for each series of Notes has been increased to $667.50 in cash per $1,000 principal amount of Notes, as set forth in the table below, and (ii) the payment of the Early Tender Premium has been extended to 11:59 p.m., New York City time, on November 12, 2019. Accordingly, the Early Tender Time and the Expiration Time for the Tender Offers will now be the same.

 

Series of
Notes

CUSIP
Number/ISIN

Aggregate

Principal

Amount

Outstanding

(in millions)

 

Dollars per $1,000 Principal Amount of Notes(1)

 

Tender Offer

Consideration

 

Early Tender

Premium

 

Total

Consideration (2)

7.70% Senior Notes due 2027

767754AJ3 /

US767754AJ35

$270.461

 

$617.50

 

$50

 

$667.50

 

 

 

 

 

 

 

 

 

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28.12.19