BofA Agents $3.15B Facilities for Drugstore Giant Rite Aid

Rite Aid entered into a new senior secured credit agreement, consisting of a $2.7 billion senior secured asset-based revolving credit facility and a $450 million “first-in, last out” senior secured term loan facility. Bank of America served as both administrative and collateral agent on the facilities.

Rite Aid, Albertsons Terminate Merger Agreement

Drugstore chain Rite Aid and food and drug retailer Albertsons have mutually agreed to terminate their previously announced merger.

BofA, Others Support Albertsons/Rite Aid Merger

A group of lenders led by Bank of America and Merrill Lynch have committed to providing Albertsons with a $4.667 billion facility to support the company’s merger with Rite Aid.

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.