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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: Jeff Jordan who wrote (23575)	10/19/1999 11:08:00 AM
From: AlienTech	Read Replies (1) \| Respond to of 43080

DJ Rite Aid/Restatement -4: Other Credit Line Due In 2001 The investment by Green is contingent on amendments to Rite Aid's bank facilities. Rite Aid's agent banks have agreed to recommend the amendment and restatement of various credit facilities totaling $2.7 billion to extend the maturity of the facility expiring on Oct. 29, 1999, and amend financial covenants in all of the facilities to be consistent with the company's current business plan. The other major banking facility is due in 2001. The Rite Aid board formed a new executive committee composed of independent directors, Gerald Tsai, Preston Robert Tisch, Leonard N. Stern and Nancy A. Lieberman. After Green's expected investment, Leonard Green will join the board and the executive committee and another person designated by Leonard Green & Partners will also join the board. Rite Aid said it won't file its Form 10-Q for the 2000 fiscal year second quarter on Oct. 18, but added it doesn't expect that the Form 10-Q will show any material differences from preliminary results posted Oct. 11. As reported Oct. 11, Rite Aid posted a preliminary second-quarter loss of $67 million, or 26 cents a diluted share, including charges on sales of $3.51 billion. -John Seward; Dow Jones Newswires; 201-938-5400 (END) DOW JONES NEWS 10-18-99 07:08 PM