Tops Jettisons Holdco Notes While Rite Aid Pushes Ahead Without Walgreens’ Merger

Each Reorg podcast episode will focus on general trends in the financing environment as well as recent events and theses.

This episode includes discussion of the following issues in Tops Holding and Rite Aid:

Tops Holding, LLC
  • Tops’ unique capital structure and its recent financing transaction
  • Redemption of holdco notes under the revolver is subject to certain projected availability conditions; while the borrowers likely cannot currently satisfy such availability conditions, as long as they are able to project that they will be able to satisfy them, they may be permitted to make restricted payments
Rite Aid
  • Use of proceeds requirements following sale of assets to Walgreens
  • How Rite Aid’s 6.125% Senior Notes due 2023 may remain outstanding following Walgreens’ sale despite use of proceeds requirements under asset sale covenants

Complete the form below to sign up for updates about the Reorg Podcast Series:


All data is secure and we are strongly committed to protecting your privacy, as outlined in our Privacy Policy.
 
 
Follow Reorg on Twitter Follow Reorg on LinkedIn Follow Reorg on Facebook Listen on Apple Podcasts Download in the App Store
 

Reorg Headquarters: 11 East 26th Street, 12th Floor, New York, NY 10010  |  Copyright © 2024, all rights reserved.
Reorg is a registered trademark of Reorg Research, Inc.  |  Terms & Conditions  |  Privacy Policy