USA Today parent Gannett to offer $400 million of five-year high-yield bonds

Gannett Co. /zigman2/quotes/202050177/composite GCI +1.46% said Monday it's Gannett Holdings LLC unit has commenced an offering of $400 million of senior secured high-yield bonds that mature in 2026. The USA Today parent said proceeds will be used together with the proceeds of a new credit agreement, to repay an existing term loan under its senior secured credit facilities. The company is also planning to enter into a new senior secured term loan for up to $550 million. Shares were not yet active premarket, but have gained 106% in the year to date, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.38% has gained 16%.

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Gannett Co. Inc.

US : U.S.: NYSE

$ 2.09

+0.03 +1.46%

Volume: 2.92M

June 7, 2023 4:00p

P/E Ratio

N/A

Dividend Yield

0.00%

Market Cap

$306.95 million

Rev. per Employee

$201,841

/zigman2/quotes/210599714/realtime

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S&P 500 Index

US : S&P US

4,267.52

-16.33 -0.38%

Volume: 0.00

June 7, 2023 5:31p