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Gannett refinances $497.1 million 11˝% term loan with 6% convertibles
By Taylor Fox
New York, Nov. 17 – Gannett Co., Inc. refinanced $497.1 million of its 11˝% term loan due 2024 with 6% convertible notes due 2027, according to a news release.
The refinancing reduces the outstanding term loan to $1.118 billion.
The refinancing was unanimously approved by Gannett’s board of directors.
Gannett was advised by Greenhill & Co., LLC and Cravath, Swaine & Moore LLP.
Gannett is a McLean, Va.-based media and marketing company.
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