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Rite Aid to redeem senior notes due 2021

Rite Aid Corp. said May 25 that it intends to redeem $805,169,000 aggregate principal amount of its outstanding 6.75% senior notes due 2021.

The drugstore chain plans to redeem the notes on June 25 at a price equivalent to 101.688% of the principal amount of the notes to be redeemed plus accrued and unpaid interest.

Earlier this month, the company announced the results of its offer launched April 19 to purchase up to $700 million of certain of its outstanding securities, comprising 6.75% senior notes due 2021 and 6.125% senior notes due 2023. The offer expired May 21.

Following the offer's expiration, the drugstore retailer validly tendered and accepted for purchase $1.36 million principal amount of the 2021 notes, or 0.17% of the outstanding principal amount.