McClatchy Taking On New Debt to Pay Back Existing $700 Million

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By: Kelly Johnson | Biz Journals

The McClatchy Co., which owns The Sacramento Bee, is buying time on hundreds of millions of debt through a refinance.

The Sacramento-based media company (NYSE: MNI) is taking on $750 million in new debt that would be due in 2022 so it can buy back $700 million in existing debt that’s due in 2017, McClatchy reported in two news releases Wednesday.

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