Rite Aid calls 11¼% notes

New York, June 7 - Rite Aid Corp. said it will redeem its $150 million principal amount of 11¼% senior notes due 2008 on July 15.

The Camp Hill, Pa., drug store chain will pay 105.625% of par plus accrued interest up to but excluding the redemption date.

Rite Aid will use borrowings on its accounts receivable securitization facility and senior secured revolving credit facility and available cash to fund the redemption.

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