Lee Enterprises fully repays $250 million first-lien term loan

By Sarah Lizee

Olympia, Wash., Nov. 16 – Lee Enterprises said it repaid in full its $250 million first-lien term loan issued in March 2014.

The repayment comes nearly five months ahead of the March 31, 2019 maturity date, according to a press release.

“Early payment of our [first-lien term loan] is a testament to our strong performance and substantial cash flows,” vice president, chief financial officer and treasurer Timothy Millage said in the release.

“We have been, and will continue to be, committed to aggressively reducing debt.”

The company’s revolving credit facility, which is part of the first-lien credit agreement, matures in December and the company is working to amend and extend it beyond its maturity date, Millage noted.

Lee is a Davenport, Iowa-based newspaper publisher.

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