McClatchy To Offer $875M In Senior Notes

Law360, New York (January 27, 2010, 3:56 PM EST) -- The McClatchy Co. has reached an agreement with lenders to offer $875 million in new senior notes to refinance some of the newspaper conglomerate's $1.95 billion in debt.

The company will use the proceeds from the new notes, due in 2017, to repay a $614 million credit agreement and make a cash tender offer for $166 million of its 7.125 percent notes due in 2011 and $24 million of its 15.75 percent senior notes due in 2014, according to regulatory filings with the U.S. Securities and...
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