Rite Aid Corp. said today it plans to sell $800 million worth of debt securities in two batches.
One sale will be for $300 million of 10-year notes; the other will be for $500 million of eight-year notes.
The Camp Hill drugstore chain said it would use the proceeds to redeem existing notes that were to mature in 2011. Those securities, paying 91/2 percent interest, total $300 million. Funds from the new sale also will replenish an existing credit line.
The sale's lead manager is Citigroup.