Gannett Reports Additional Debt Reduction
Portfolio Pulse from Benzinga Newsdesk
Gannett has reported additional debt reduction, with Apollo waiving $13.1 million of scheduled amortization payment for Q3 2023 to repurchase $15.0 million of 2026 Senior Notes at a discount to par value of 87.5%. Gannett remains on track to repay over $130 million of debt and reduce first lien net leverage below 2.0x by the end of 2023.
September 18, 2023 | 11:11 am
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Gannett's additional debt reduction and commitment to repay over $130 million of debt by the end of 2023 could improve its credit rating and financial stability, potentially making its stock more attractive to investors.
Gannett's additional debt reduction and commitment to repay over $130 million of debt by the end of 2023 could improve its credit rating and financial stability. This could make its stock more attractive to investors, potentially leading to an increase in its stock price in the short term.
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