Rite Aid Corporation · Bankruptcy · 2023

8.000% Senior Secured Notes due 2026

Rite Aid Corporation · ISIN US767754CL62. 8 verified questions on this obligation.

Verified outcome

EligibleIs the instrument a Deliverable Obligation for this credit event, on 7 checks: the issuer is the Reference Entity; the Maximum Maturity (30 years), Specified Currency, Not Subordinated, Not Bearer and Transferable characteristics; and Not Contingent?

Basis. All 7 checks pass on the record: the issuer is the Reference Entity, the instrument meets the Maximum Maturity, Specified Currency, Not Subordinated, Not Bearer and Transferable characteristics, and it is Not Contingent.

Source clauses

Indenture of 2020-07-27

cover page
preamble
Section 2.01 (Amount of Securities)
Appendix A, Section 2.1(a) (Global Securities)
Appendix A, Sections 2.2–2.3 (Authentication; Transfer and Exchange)
Appendix A, Section 2.4(c)–(d) (Definitive Securities)
Exhibit 1 to Appendix A, form of face of Note

Currency: USD
Final maturity: 2026-11-15
Seniority: Senior
Governing law: State of New York
Form: Registered
Transferable: Yes (no contractual transfer restriction)
Coupon: 8.000%

Questions and verified answers

#1 Is the instrument a Deliverable Obligation for this credit event, on 7 checks: the issuer is the Reference Entity; the Maximum Maturity (30 years), Specified Currency, Not Subordinated, Not Bearer and Transferable characteristics; and Not Contingent?
Eligible
Indenture of 2020-07-27
#2 Does the instrument meet the Maximum Maturity characteristic (30 years)?
Yes
Indenture of 2020-07-27
- Exhibit 1 to Appendix A, form of face of Note
#3 Does the instrument meet the Specified Currency characteristic (USD, EUR, JPY, GBP, CHF, CAD)?
Yes
Indenture of 2020-07-27
- Section 2.01 (Amount of Securities)
- Appendix A, Sections 2.2–2.3 (Authentication; Transfer and Exchange)
#4 Does the instrument meet the Not Subordinated characteristic?
Yes
Indenture of 2020-07-27
- cover page
- preamble
#5 Does the instrument meet the Not Bearer characteristic?
Yes
Indenture of 2020-07-27
- Appendix A, Section 2.1(a) (Global Securities)
- Appendix A, Section 2.4(c)–(d) (Definitive Securities)
#6 Is the instrument Not Contingent (principal not reducible for a reason other than payment)?
Yes
None: no clause making principal contingent was found.
#7 Does the instrument meet the Transferable characteristic?
Yes
None: no clause restricting transfer was found.
#8 Is the issuer of the instrument the Reference Entity?
Yes
Indenture of 2020-07-27
- Exhibit 1 to Appendix A, form of face of Note

#	Question	Verified answer	Source clauses
1	Is the instrument a Deliverable Obligation for this credit event, on 7 checks: the issuer is the Reference Entity; the Maximum Maturity (30 years), Specified Currency, Not Subordinated, Not Bearer and Transferable characteristics; and Not Contingent? Deliverability	Eligible	Indenture of 2020-07-27 cover page preamble Section 2.01 (Amount of Securities) Appendix A, Section 2.1(a) (Global Securities) Appendix A, Sections 2.2–2.3 (Authentication; Transfer and Exchange) Appendix A, Section 2.4(c)–(d) (Definitive Securities) Exhibit 1 to Appendix A, form of face of Note
2	Does the instrument meet the Maximum Maturity characteristic (30 years)? Deliverable Obligation Characteristic	Yes	Indenture of 2020-07-27 Exhibit 1 to Appendix A, form of face of Note
3	Does the instrument meet the Specified Currency characteristic (USD, EUR, JPY, GBP, CHF, CAD)? Deliverable Obligation Characteristic	Yes	Indenture of 2020-07-27 Section 2.01 (Amount of Securities) Appendix A, Sections 2.2–2.3 (Authentication; Transfer and Exchange)
4	Does the instrument meet the Not Subordinated characteristic? Deliverable Obligation Characteristic	Yes	Indenture of 2020-07-27 cover page preamble
5	Does the instrument meet the Not Bearer characteristic? Deliverable Obligation Characteristic	Yes	Indenture of 2020-07-27 Appendix A, Section 2.1(a) (Global Securities) Appendix A, Section 2.4(c)–(d) (Definitive Securities)
6	Is the instrument Not Contingent (principal not reducible for a reason other than payment)? Additional check	Yes	None: no clause making principal contingent was found.
7	Does the instrument meet the Transferable characteristic? Deliverable Obligation Characteristic	Yes	None: no clause restricting transfer was found.
8	Is the issuer of the instrument the Reference Entity? Reference Entity	Yes	Indenture of 2020-07-27 Exhibit 1 to Appendix A, form of face of Note

Documents

Terms come from these documents. Fields the record omits show as not stated.

DOC-1 Rite Aid 8-K/A (Amendment No. 1), Item 1.03 Bankruptcy, Chapter 11 petition 2023-10-15excerpts
DOC-2 Rite Aid original 8-K filed 2023-10-16 (Items 1.03 and 2.04)excerpts
DOC-3 Indenture dated July 27, 2020, 8.000% Senior Secured Notes due 2026 (EX-4.1)excerpts

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