Gannett Announces Commitment Letter to Secure New Credit Facility to Refinance Existing Debt
Gannett Co., Inc. (GCI)
Last gannett co., inc. earnings: 11/4 06:55 am
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US:NYSE Investor Relations:
investors.gannett.com
Company Research
Source: Business Wire
NEW YORK, NY--(BUSINESS WIRE)--Gannett Co., Inc. (“Gannett”, “we”, “our”, or the “Company”) (NYSE: GCI) announced today it has entered into a commitment letter for a comprehensive debt refinancing that is expected to extend our debt maturities and significantly reduce future dilution from the Company’s 6.0% Senior Secured Convertible Notes due 2027 (the “2027 Notes”).The commitment letter provides for a new senior secured credit facility (the “Term Loan Facility”) with funds managed by affiliates of Apollo (NYSE: APO) (“Apollo Funds”) of up to $900 million, to be comprised of an initial term loan facility of approximately $675 million (the “Initial Term Facility”), to be funded at the time of closing, and a delayed draw term loan facility of approximately $225 million (the “Delayed Draw Facility”), which will be available at the Company’s discretion at closing and during the six months following closing, subject to certain customary funding conditions. Net proceeds from the Term L
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GCI
News
- Gannett Announces Third Quarter 2024 Results & Updated Full Year OutlookBusiness Wire
- Gannett Announces Expiration of Exchange Offer and Consent SolicitationBusiness Wire
- Gannett Schedules Third Quarter 2024 ResultsBusiness Wire
- Gannett Announces Closing of Refinancing Transactions and Early Settlement of Exchange Offer and Consent SolicitationBusiness Wire
- Gannett Announces Results of Early Participation in Exchange Offer and Consent SolicitationBusiness Wire
GCI
Sec Filings
- 11/14/24 - Form SC
- 10/31/24 - Form 10-Q
- 10/31/24 - Form 8-K
- GCI's page on the SEC website