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