Gannett Co., Inc. Announces Completion of $600 Million Offering of Senior Notes
McLEAN, Va., July 29, 2013 /PRNewswire/ -- Gannett Co., Inc. (NYSE: GCI) today announced the successful completion of its previously announced private placement offering of $600 million aggregate principal amount of its 5.125% Senior Notes due 2020.
"Given the very strong interest in these notes, we were able to substantially increase the offering from $500 million to $600 million under highly favorable rates and terms," said Gannett President and CEO Gracia Martore. "As always, Gannett has excellent financial flexibility thanks to our fortress balance sheet."
The Company intends to use the net proceeds from the offering to repay borrowings outstanding under its revolving credit facilities. Any remaining proceeds may be used to repay the Company's outstanding unsecured notes and/or for general corporate purposes.
The Notes have not been registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration except pursuant to an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes or any other securities.
Gannett Co., Inc. (NYSE: GCI) is an international media and marketing solutions company that informs and engages more than 100 million people every month through its powerful network of broadcast, digital, mobile and publishing properties. Our portfolio of trusted brands offers marketers unmatched local-to-national reach and customizable, innovative marketing solutions across any platform. Gannett is committed to connecting people – and the companies who want to reach them – with their interests and communities.
SOURCE Gannett Co., Inc.
More by this Source
Gannett Names Andy Yost Senior Vice President of Consumer Sales and Marketing
Apr 15, 2014, 14:05 ET
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.