Gannett Co. Raises Note Offering by $100 Million

By: Gannett Co. said Wednesday it has raised its most recent note offering to $500 million from $400 million.

Gannett, the largest newspaper publisher in the U.S., said it has priced $250 million in notes due in 2014 at about 98.465 percent of face value with an interest rate of 8.75 percent.

Another $250 million due in 2017 has been priced at 98.582 percent of face value with an interest rate of 9.375 percent.

Gannett is selling the notes in a private offering to repay other borrowings.

Shares fell 3 cents to $11.71 in premarket trading.