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home / news releases / GCI - Gannett announces continued debt repayment

GCI - Gannett announces continued debt repayment

Gannett Co. Inc.

2023-08-10 07:24:02 ET

  • Gannett Co Inc ( NYSE: GCI ) Thursday said the company used proceeds of $44.4 million from real estate sales completed in the third quarter to reduce its first lien debt by $46.9 million.
  • About $16.0 million of the proceeds were used to repurchase approximately $18.5 million of 6.00% first lien notes due November 1, 2026, representing a discount to par.
  • The remaining $28.4 million of proceeds were used to repay amounts under its five-year senior secured term loan facility.
  • GCI expects to exceed its initial projections by repaying at least $130 million of debt by the end of 2023.
  • Source: Press Release

For further details see:

Gannett announces continued debt repayment
Stock Information
Company Name: Gannett Co. Inc.
Stock Symbol: GCI
Market: NYSE
Website: gannett.com
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