Content about Refinancing

May 17, 2013
Supervalu refinances $1.5 billion senior secured term loan agreement

Supervalu successfully completed the refinancing of its existing $1.5 billion senior secured term loan agreement.

MINNEAPOLIS — Supervalu on Thursday successfully completed the refinancing of its existing $1.5 billion senior secured term loan agreement. The amendment reduces the interest rate margin from 5% to 4% and reduces the LIBOR floor from 1.25% to 1% for LIBOR based loans. 

April 12, 2013
Target to pay more than $1.1 billion in debt refinancing plan

Target has accepted for purchase $760.7 million worth of debt as part of a $1.1 billion debt-refinancing plan announced last month, the mass merchandiser said.

MINNEAPOLIS — Target has accepted for purchase $760.7 million worth of debt as part of a $1.1 billion debt-refinancing plan announced last month, the mass merchandiser said.

The company announced plans in mid-March to purchase up to more than $1.1 billion worth of debt securities and will pay close to the full amount for those accepted for purchase.

The offer to purchase the debt from the people holding it expired Wednesday night at 11:59, the company said.

 

February 22, 2013
Rite Aid finishes debt-refinancing transactions

Rite Aid has completed a series of debt financing transactions it announced recently, the retail pharmacy chain said.

CAMP HILL, Pa. — Rite Aid has completed a series of debt financing transactions it announced recently, the retail pharmacy chain said.

The transactions were meant to extend the maturity of a portion of the retailer's debt and lower its interest expenses.

February 8, 2013
Rite Aid provides update on debt refinancing

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

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

February 1, 2013
Rite Aid moves to refinance debt

Rite Aid will refinance part of its debt, the retail pharmacy chain announced.

CAMP HILL, Pa. — Rite Aid will refinance part of its debt, the retail pharmacy chain announced.

May 15, 2012
Rite Aid closes debt refinancing offer

Rite Aid has closed an offering of new debt from which it plans to generate funding for a buyback of older debt, the retailer said Tuesday.

CAMP HILL, Pa. — Rite Aid has closed an offering of new debt from which it plans to generate funding for a buyback of older debt, the retailer said Tuesday.

Rite Aid announced the closing of its offering of $421 million in senior notes with a 9.25% interest rate and due in 2020. The company plans to use money from the offering to buy back 9.375% senior notes due 2015. As of Monday night, $296.3 million worth of the old notes had been put up for sale.

February 27, 2012
Rite Aid completes debt offering

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

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.

February 14, 2012
Rite Aid issues $481 million in senior notes to refinance debt

Rite Aid is offering $481 million in eight-year senior notes to refinance debt that is scheduled to be due in three years, the retail pharmacy chain said Tuesday.

CAMP HILL, Pa. — Rite Aid is offering $481 million in eight-year senior notes to refinance debt that is scheduled to be due in three years, the retail pharmacy chain said Tuesday.

Rite Aid said it would use money from the offering to pay interest and other expenses related to a tender offer announced Tuesday for all outstanding 8.625% senior notes due 2015. The price includes the $459 million principal plus a 2.625% premium. The new notes are being offered at a 9.25% interest rate.

November 15, 2011
Physicians Formula completes subordinated debt refinancing

Beauty company Physicians Formula Holdings has completed the previously announced refinancing of its subordinated debt held by Mill Road Capital, and expects interest expense to be reduced by $1.5 million for the first 12 months, following the refinancing.

AZUSA, Calif. — Beauty company Physicians Formula Holdings has completed the previously announced refinancing of its subordinated debt held by Mill Road Capital, and expects interest expense to be reduced by $1.5 million for the first 12 months, following the refinancing.

August 18, 2010
Rite Aid completes refinancing transactions

Rite Aid on Thursday announced that it successfully completed its previously announced refinancing transactions that...