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Rite Aid completes refinancing to tune of $117M loss

By - Last modified: February 25, 2013 at 10:01 AM

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Cumberland County-based drug store chain Rite Aid Corp. said it has completed a series of refinancing moves to extend the maturity of some of its debt and lower interest expenses.

Cumulatively, the modifications are expected to result in a recorded loss of $117 million, the company said in a news release.

But Rite Aid anticipates it will produce annual cash interest savings of about $45 million, the release stated.

Rite Aid has 4,626 stores in 31 states and Washington, D.C.

Shares of the East Pennsboro Township-based company are traded on the New York Stock Exchange under the ticker symbol RAD.

 

 

 

 

 

 

 

Brent Burkey

Brent Burkey

Brent Burkey covers York County, agribusiness, energy and environment, and workforce issues. Have a tip or question for him? Email him at brentb@cpbj.com. Follow him on Twitter, @brentburkey.

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