McClatchy buys back $10.02 million 5¾% notes, $15 million 9% notes

New York, Aug. 25 – McClatchy Co. said it repurchased $10,021,000 of its 5¾% notes due 2017 and $15 million of its 9% secured notes due 2022.

The company paid $22.9 million for the securities plus accrued interest.

Outstanding debt following the privately negotiated transaction is $966.1 million.

“We continue to execute on our plan to reduce our debt obligations while at the same time managing the digital transformation of our business,” said chief financial officer Elaine Lintecum in a news release.

“We remain committed to strengthening our financial position and creating leveraged equity returns for our shareholders.

“Our next debt maturity date is in 2017 and is approximately $60 million, and we have no other maturities due until the end of 2022.”

McClatchy is a Sacramento, Calif.-based newspaper and media company.

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