Gannett pricing $1 billion senior notes in two tranches Thursday

By Paul A. Harris

Portland, Ore., Sept. 26 - Gannett Co., Inc. plans to price $1 billion of senior notes (existing ratings Ba1/BB) in a Thursday drive-by, trailing a late-morning investor conference call, according to a syndicate source.

The deal includes a $500 million tranche of six-year notes, which are non-callable for three years, and a $500 million tranche of 10-year notes, which are non-callable for five years.

J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Barclays, Mitsubishi UFJ Securities (USA) Inc., Mizuho Securities USA Inc., SunTrust Robinson Humphrey Inc. and U.S. Bancorp Investments Inc. are the joint bookrunners for the Rule 144A and Regulation S for life notes transaction.

PNC Capital Markets LLC, Fifth Thirds Securities Inc., SMBC, Raymond James, Capital One Securities, Comerica Securities, RBS Securities Inc. and TD Securities are the co-managers.

The McLean, Va.-based media and marketing solutions company plans to use the proceeds to fund the merger with Belo Corp. and for general corporate purposes.

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