Gannett Co., Inc. announced on October 11, 2024, the preliminary results of early participation in its previously announced exchange offer and consent solicitation. As of the early tender time on October 10, 2024, a significant $274,681,000 principal amount of 6.000% Senior Secured Notes due 2026 had been validly tendered.
This represents 98.61% of the aggregate principal amount outstanding, indicating strong acceptance from noteholders. Of the tendered notes, 14.51% opted for the Loan Option Consideration, while 84.10% chose the Cash Option Consideration.
Gannett and Gannett Holdings LLC have also received the necessary consents for the Proposed Amendments related to the Notes. The early settlement for these tendered Notes is expected to occur on October 15, 2024, marking a swift progression in the company's debt management strategy.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.