Gannett Raises $1.25B For Belo Deal

Law360, New York (October 3, 2013, 4:01 PM EDT) -- Gannett Co. Inc. has placed $1.25 billion in senior notes with private investors, which it plans to use in its pending acquisition of Belo Corp., it announced Thursday.

The deal is larger than Gannett had expected, with the media giant placing $600 million of its 5.125 percent notes due 2019 and $650 million of its 6.375 percent notes due 2023.

“Given the very strong interest in these notes, we were able to substantially increase the offering from $1 billion to $1.25 billion under highly favorable rates...
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