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Oct. 4, 2021, 7:24 a.m. EDT

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

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By Ciara Linnane

Gannett Co. /zigman2/quotes/202050177/composite GCI +2.27% 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 +2.02% has gained 16%.

/zigman2/quotes/202050177/composite
US : U.S.: NYSE
$ 4.05
+0.09 +2.27%
Volume: 1.10M
May 17, 2022 4:00p
P/E Ratio
465.52
Dividend Yield
0.00%
Market Cap
$580.50 million
Rev. per Employee
$230,368
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/zigman2/quotes/210599714/realtime
US : S&P US
4,088.85
+80.84 +2.02%
Volume: 2.46B
May 17, 2022 4:54p
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