McLean, Va. - Gannett (NYSE: GCI), the publisher of USA Today
and 83 other daily newspapers, said that it has priced $500 million of notes
that it plans to sell to institutional investors.
The company originally had
planned to raise $400 million, but decided to sell $50 million more in each of
the two senior notes, due in 2014 and 2017.
The offering is expected to close
on Friday, with the company using proceeds to repay barrowings under its
revolving credit facilities and term loan.
The news comes after McLean, Va.-based
Gannett released better-than-expected earnings projections for the third quarter.
Related Links:
http://www.gannett.com/news/pressrelease/2009/pr092909c.htm
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