Gannett Extends Credit Agreements Out to 2014

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By: Mark Fitzgerald

Gannett Co. said in a regulatory filing late Friday that it has amended its revolving credit agreements to extend certain of the agreements out to September 2014, and allowing it to tap at least $750 million in unsecured debt, subject to restrictions.

The amended agreements with its lenders, led by Bank of America N.A. also “limit(s) the incurrence by the company of unsecured, non-guaranteed indebtedness for borrowed money unless that indebtedness meets certain requirements,” the filing with the Securities and Exchange Commission stated.

“Total commitments under the amended revolving credit agreements are $1.63 billion through March 15, 2012 and $1.14 billion from March 15, 2012 to September 30, 2014,” Gannett said. “The amended revolving credit agreements continue to be guaranteed by all of our subsidiaries that guarantee the obligations under our existing revolving credit agreements, term loan agreement and certain of our notes.”

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