Gannett picks up a billion

0

Gannett has filled its coffers, announcing that it has sold one billion bucks in new unsecured senior convertible notes due 2037. The 30-year notes bear interest on a floating rate tied to LIBOR, beginning at 5.09%. The initial conversion price is 92.14 per share. Gannett's stock is currently trading in the 50s.



SHARE
Previous articleSummer doldrums, scattered coverage
Next articleInterep Radio Symposium today in NYC
RBR+TVBR has been reporting on the business of broadcasting for nearly three decades. Beholden to no one, it is independently owned.