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Rite Aid issues $481 million in senior notes to refinance debt
CAMP HILL, Pa. — Rite Aid is offering $481 million in eight-year senior notes to refinance debt that is scheduled to come due in three years, the retail pharmacy chain said Tuesday.
Rite Aid said it would use money from the offering to pay interest and other expenses related to a tender offer announced Tuesday for all outstanding 8.625% senior notes due 2015. The price includes the $459 million principal plus a 2.625% premium.
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Eddie Bauer CEO to leave company
Seattle -- A Tuesday report by the Seattle Times said that Eddie Bauer chief Neil Fiske, who joined the retailer in 2007 and led it through bankruptcy, will leave his post effective March 2.
The company has not given a reason for Fiske’s sudden departure. David Chamberlain, executive chairman, will serve as interim CEO until a permanent replacement is named. Fiske will remain with the company as a consultant to ensure a smooth transition.