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Postmedia offers to buy C$17.24 million of 8¼% senior secured notes
New York, Aug. 4 – Postmedia Network Canada Corp. announced that its subsidiary Postmedia Network Inc. is offering to buy up to C$17,235,000 of its 8¼% senior secured notes.
The purchase price will be par plus accrued interest up to but excluding the purchase date of Sept. 4, according to a news release.
To participate, holders must tender by 11:59 p.m. ET on Aug. 31.
Postmedia is required to make the offer under the terms of the note indenture using the proceeds of a recently completed sale of property in Surrey, B.C.
Postmedia is a Toronto-based publisher of daily newspapers.
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