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Rite Aid closes debt refinancing offer
CAMP HILL, Pa. — Rite Aid has closed an offering of new debt from which it plans to generate funding for a buyback of older debt, the retailer said Tuesday.
Rite Aid announced the closing of its offering of $421 million in senior notes with a 9.25% interest rate and due in 2020. The company plans to use money from the offering to buy back 9.375% senior notes due 2015. As of Monday night, $296.3 million worth of the old notes had been put up for sale.
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Harris poll: Walgreens tops among drug store retailers in brand equity
NEW YORK — Consumers gravitate toward traditional pharmacies for their everyday health-and-wellness needs, according to the "2012 Harris Poll EquiTrend" survey released Monday. Among retail pharmacy operations, Walgreens enjoyed the greatest brand equity among consumers based on top consumer scores in "familiarity" and "purchase consideration" categories. Overall, Walgreens' brand equity was tabulated at 69.9, CVS/pharmacy came in at 67.4 and Rite Aid 62.5.