$950 million Eckerd refinancing complete.

CLEARWATER, Fla. - Jack Eckerd Corp. said it has completed the $950 million financing package initiated in early April, with Chemical Bank and NationsBank as managers.

The lending group has 11 other financial institutions as co-agents. The funds will be used to simplify the pharmacy chain's debt structure and reduce interest and dividend costs by an estimated $30 million to $35 million a year.

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