Content about Debt

MINNEAPOLIS — About $209.3 million worth of Target Corp.'s debt has been put up for sale as the company moves to refinance $679 million worth of debt due between 2028 and 2031, the mass merchandise retailer said.

Target announced plans to purchase $170 million in 6.75% debentures due 2028, $154.9 million in 6.65% debentures due 2028 and $354 million in 7% debentures due 2031.

The company said the $209.3 million tendered so far represented 20.31%, 25.22% and 38.32% of the totals of the three respective security titles.

CAMP HILL, Pa. — Rite Aid has updated the debt refinancing that it announced Jan. 31, the retail pharmacy chain said.

JERUSALEM — Teva Pharmaceutical Industries is buying $1 billion worth of its debt, the Israeli drug maker said.

Teva said its finance division, Teva Pharmaceutical Finance IV, had called for redemption of its $1 billion outstanding principal amount of 1.700% senior notes due 2014, funded with proceeds from the company's offering of $2 billion principal amount of senior notes, priced on Dec. 13, 2012, and closed Tuesday.

The redemption date will be Jan. 7, 2013.

CAMP HILL, Pa. — Rite Aid has closed a bond offering that it issued earlier this month to refinance its debt, the company said Monday.

Rite Aid said the proceeds of its offering of $481 million in 9.25% senior notes due 2020 would be used to buy back its 8.625% senior notes due 2015.

The retail pharmacy chain announced the offering on Feb. 14. The offering marked the first time that the company was able to tap the unsecured debt market in five years. Rite Aid has carried a heavy debt burden since its 2007 acquisition of the Brooks and Eckerd pharmacy chains.

NORWALK, Conn. — GE Capital Corporate Retail Finance announced it is administrative agent and sole lender on a $65 million asset-based credit facility for Navarro Discount Pharmacy. The financing will be used to refinance debt and for general corporate purposes.

“GE Capital understands retailing and has a great deal of experience financing drug stores,” Navarro Discount Pharmacy CEO Juan Ortiz said. “This allowed us to secure the right capital structure to help build our business.”

MONTVALE, N.J. — Bankrupt grocer A&P has entered into an agreement to receive $490 million of debt and equity financing from investors that will enable it to complete the restructuring of its balance sheet and emerge from Chapter 11 as a private entity in early 2012.