Morris Publishing redeems $423,763 of floating-rate notes due 2014

By Melissa Kory

Cleveland, Oct. 19 - Morris Publishing Group, LLC redeemed $423,763 of its floating-rate secured notes due 2014 with its monthly positive operating cash flow on Oct. 19, following its monthly period ended Sept. 30, according to an 8-K filing with the Securities and Exchange Commission.

As of Sept. 30, $89,692,000 of the notes remained outstanding, compared to $90,116,000 at the end of August. Approximately $1,094,000 of the notes were redeemed in August.

From March 1, 2010 through Sept. 30, approximately $10,308,800 notes have been redeemed and $3.29 million has been paid in interest.

Morris is an Augusta, Ga.-based newspaper publisher.

As previously reported, the notes were issued in connection with the pre-packaged Chapter 11 joint plan of reorganization, which was confirmed by the U.S. Bankruptcy Court for the Southern District of Georgia, Augusta Division, on Feb. 17, 2010.

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