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Walgreens Boots completes $12.8 billion term loan

Staff writer ▼ | December 22, 2015
Walgreens Boots Alliance has completed the placement of $5 billion of term loan facilities.
Walgreens Boots Alliance
Financing   Two tranches of $2.5 billion each
The loan facilities are evenly split between two tranches of $2.5 billion each, with three- and five-year maturities, respectively, and a $7.8 billion term loan bridge facility.

These facilities replace the company’s previously reported $12.8 billion bridge facility commitment.

This financing has been put in place as part of the financing of Walgreens Boots Alliance’s proposed acquisition of Rite Aid Corporation (NYSE: RAD). Drawing under the facilities is subject to the closing of this acquisition.

The proposed acquisition by Walgreens Boots Alliance of Rite Aid, which was announced on 27 October 2015, is subject to approval of Rite Aid's stockholders and satisfaction of other customary closing conditions, including expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.

The transaction is expected to close in the second half of calendar 2016.