| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers Tenders > Headlines for 2017 > News item |
Postmedia repays C$1.1 million 8¼% notes, to repay C$1.2 million more
New York, April 6 – Postmedia Network Canada Corp. redeemed C$1.1 million of its 8¼% senior secured notes due 2021 during the three months ending on Feb. 28 and will redeem a further C$1.2 million on April 18.
The company was required to repay the notes during the quarter ended Feb. 28 with the proceeds from asset sales under the terms of the note indenture, according to a news release.
Postmedia had C$225 million of the notes outstanding on Oct. 5 after amending and restating its 8¼% senior secured notes due 2017 in order to extend the maturity to July 15, 2021.
The amendment and restatement was part of a recapitalization transaction that also included the exchange of the company’s 12½% senior secured notes due 2018 for shares and the issue of $88.6 million of 10¼% second-lien senior secured notes for cash, with proceeds being used to redeem C$77.8 million of the 8¼% notes at par.
Postmedia is a Toronto-based news company with print, online and mobile distribution.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.