Rite Aid moves to finish refinancing 2010 debts
Camp Hill, Pa. Rite Aid Corp. said Monday it has moved closer to refinancing the rest of its debts due in 2010.
The company said it plans to sell $250 million in senior notes due 2019, with the proceeds being used to pay back and cancel accounts receivable securitization facilities, and fund-related fees and costs. Rite Aid will also borrow more money from a term loan due in 2015, and will increase the borrowing capacity of its senior secured revolving credit facility.
After the refinancing is complete, Rite Aid said it will not have any debts due before September 2012. The company finished refinancing the rest of its September 2010 debt in June.
The company has been working to refinance and pay off its debt, which stood at $5.91 billion as of Aug. 29.
Best Buy wants to see your ‘scariest’ technology
MINNEAPOLIS Best Buy has launched a new Web site, inviting customers to submit photos of their “scariest” old technology for the chance to win a number of prizes.
Through Oct. 26, visitors to the Web site www.ScaryTechnology.com are encouraged to enter photos of their “scary” technology, from a VCR thats eat tapes to a screeching dial-up modem, along with a caption to bring the photo to life.
One grand prize winner will receive a home theater makeover from Insignia and Rocketfish, with complete Geek Squad installation (a total value up to $3,500). In addition one first runner up will receive a $1,500 Best Buy gift card, and one second runner up will receive a $1,000 Best Buy gift card.
Destination Maternity re-launches Two Hearts line at Sears, Kmart
PHILADELPHIA Destination Maternity annonced that it is re-launching its Two Hearts Maternity by Destination Maternity collection exclusively at Sears and Kmart stores. The rollout of the Two Hearts collection began in early October and will reach approximately 523 Sears locations and approximately 100 Kmart locations by the end of the month.
The Two Hearts Maternity collection features dresses, swimwear, lingerie and sleepwear. Most items are priced under $25, according to the company.
The Two Hearts Maternity collection was previously offered in Sears stores from April 2004 through June 2008. The re-birth of the line, renamed to include the Destination Maternity byline, represents an opportunity to offer great fashion and value to Sears and Kmart Moms-to-be.