BofA, Regions, Others Increase Fred’s ABL to Support Rite Aid Buy

To support acquisition by Fred’s of 865 Rite Aid stores, Bank of America, Merrill Lynch and Regions Capital have provided $1.05 billion of committed ABL financing.

Rite-Aid Issues $500M Loan, Narrows EPS Range

Fox Business News reported that Rite-Aid has announced plans to issue a new $500 million second-lien term loan in an effort to lower its interest expense.

Rite Aid Completes Debt Refinancing Transactions

Rite Aid said it completed its debt refinancing transactions. Citigroup is acting as dealer manager and solicitation agent for each tender offer and consent solicitation.

Fitch Assigns Rating to Rite Aid’s Proposed ABL Refi

Fitch Ratings assigned a rating of BB-/RR1 to Rite Aid’s proposed new $1.725 billion secured revolver, $900 million term loan and $470 second lien term loan. The proceeds will be used to refinance Rite Aid’s existing $1.175 ABL facility.