June 8, 2009, Rite Aid Corporation announced it will offer $400 million aggregate principal amount of senior secured notes due 2016.
According to its Web site, the notes "will be unsecured, unsubordinated obligations of Rite Aid Corporation and will be guaranteed by substantially all of Rite Aid's subsidiaries."
This offering is part of Rite Aid's comprehensive plan to refinance its 2010 debt maturities.
Rite Aid also announced in April, 2009, that it will be closing its distribution center in Newnan, Ga., by the end of September, 2009, according to Reuters.
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