Morris Publishing to repurchase notes with proceeds from building sale

By Ashley Montgomery

Kansas City, Kan., Dec. 7 - Morris Publishing Group LLC said it would use the proceeds from its sale of its newspaper building and real estate at One Press Place, Athens, Ga., to repay its working capital facility and repurchase its floating-rate secured notes due 2014.

Morris said the indenture mandates that it use any cash proceeds from an asset sale to repay its capital facility and then offer to repurchase the notes on a pro rata basis at 101.

The offer will be mailed to note holders following receipt of the proceeds.

Morris is an Augusta, Ga.-based newspaper publisher.

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