Rite Aid’s $1.8 Billion High‑Yield Senior Debt Offering

Cravath represented the initial purchasers, Citigroup, BofA Merrill Lynch, Wells Fargo Securities, Credit Suisse and Goldman, Sachs & Co., in connection with the US$1.8 billion 144A/Reg. S high‑yield senior debt offering of Rite Aid Corporation, the third largest retail drugstore chain in the United States at the time of the offering. Proceeds of the offering were used to finance the acquisition of EnvisionRx by Rite Aid. The transaction closed on April 2, 2015.

The Cravath team included partners Andrew J. Pitts and Joseph D. Zavaglia and associate Shamil P. Kotecha. Alex M. Dzioba also worked on this matter.