Rite Aid to call all $300 million of 9½% notes due 2011

By Laura Lutz

Washington, Feb. 9 - Rite Aid Corp. plans to redeem all of its $300 million outstanding principal amount of 9½% senior secured notes due February 2011.

The company intends to redeem the notes for 104.75% of the principal amount plus accrued interest.

The redemption will be funded with proceeds from a planned offering of $300 million of 10-year senior secured notes due 2017 and $500 million of eight-year senior notes due 2015.

Rite Aid is a Camp Hill, Pa., national drugstore chain.

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