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Rite Aid Corporation Message Board

  • xopop_2000 xopop_2000 Feb 28, 2008 12:48 PM Flag

    With interest rates going down

    I'm hoping RAD can refinance some of their debt at more attractive rates/terms. However, I haven't seen any press releases to this effect. Has anyone else come across any reports of RAD debt refinancing?

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    • RAD doesn't need to refinance any of its debt currently. If you took the time to find out how RAD's debt instuments are currently structured, you would know that most of RAD's debt is tied to LIBOR. LIBOR has been in a decline since late last summer, and has been declining rather steeply since late December, this is already translating to lower debt payments and helping the bottom line. As LIBOR continues to fall even further, this will accelerate RAD's return to profitability! By the time LIBOR bottoms out, the integration of the B/E aquisition will be completed and this will in turn (along with lower debt payments) strengthen RAD's balance sheet and operating income and allow RAD to get very favorable terms when they do decide to reorganize their debt.

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