Gannett Co., Inc. announced on October 16, 2024, the initial closing of its previously announced debt refinancing transactions. This significant financial maneuver extends the company's debt maturities, providing greater stability.
The refinancing also substantially reduces potential future dilution from Gannett’s 6.000% Senior Secured Convertible Notes due 2027. This action is a key component of the company's strategy to optimize its capital structure.
Furthermore, the early settlement of the exchange offer for notes that were validly tendered by October 10, 2024, occurred on October 15, 2024. This demonstrates efficient execution of the debt management plan.
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