CAMP HILL, Pa. — Rite Aid moved to refinance its debt Friday, announcing that it would buy half a billion dollars in notes using proceeds from a new loan, while also projecting that it would turn a profit in the first quarter of its fiscal year 2014, results of which it will announce next week.
The retail pharmacy chain said it would buy $500 million worth of 7.5% Senior Secured Notes, due 2017, using the proceeds from a $500 million second lien term loan.
The offer will expire on July 5 unless it's extended, the company said.