Walgreens Boots Alliance reports US$6 billion debt offering to fund Rite Aid acquisition

Walgreens Boots Alliance reports US$6 billion debt offering to fund Rite Aid acquisition

Walgreens Boots Alliance closed a US$6 billion debt offering yesterday, in order to finance its acquisition of Rite Aid.

The Rite Aid deal is valued at US$17.2 million and is due to complete in the second half of the year, subject to regulatory approval.

The net proceeds of Walgreens Boots Alliance’s debt offer will be funnelled toward funding part of the purchase’s cash consideration, as well as retiring a portion of Rite Aid’s debt and to pay related fees and expenses.

The offering includes US$1.25 billion of 1.75 percent notes, due in 2018, US$1.5 billion of 2.6 percent notes due in 2021, US$750 million of 3.1 percent notes due in 2023, US$1.9 billion of 3.45 percent notes due in 2026 and US$600 million of 4.65 percent notes due 2046.

 

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