Rite Aid Moves to Auction $567 Million Elixir Buyout Loan

Bankrupt US pharmacy chain Rite Aid Corp. is in talks with lenders to offload the loan it provided to MedImpact Healthcare Systems Inc. for the purchase of insurance unit Elixir Solutions, according to people with knowledge of the matter.

Rite Aid is working with Guggenheim Securities on the $567 million loan sale, said the people, who asked not to be identified as the details are private. Bids for the loan are due June 24, one of the people said.

The loan includes unusual, bond-like investor protections including an early repayment premium of up to 102 cents on the dollar, bankruptcy ...