Gannett ( (GCI) ) just unveiled an announcement.
Gannett Co., Inc. has successfully completed an exchange offer for its outstanding 6.000% Senior Secured Notes, allowing holders to opt for either a loan or cash option, resulting in the tendering and cancellation of $274.6 million worth of notes. Concurrently, Gannett negotiated a private transaction to exchange and repurchase its 2027 Convertible Notes, issuing new 2031 Convertible Notes as part of the process. These financial maneuvers, including amendments to credit agreements, aim to enhance Gannett’s financial flexibility and manage its debt profile effectively.
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