Walgreen to sell 10-year notes to repay debt

Deerfield-based Walgreen Co., the second-largest U.S. drugstore chain, plans to sell 10-year notes as soon as today to repay debt, according to a person familiar with the benchmark offering.

The bonds are rated A2, the sixth-highest level of investment grade, by Moody's Investors Service and one step higher at A+ by Standard & Poor's, said the person, who declined to be identified because terms aren't set. Benchmark typically means at least $500 million in size.