Sheridan Group redeems $3.88 million of its 12½% notes due 2014

By Tali David

Minneapolis, Dec. 20 - The Sheridan Group, Inc. deposited funds with its trustee to redeem $3,883,000 in principal amount of its 12½% senior secured notes due 2014, according to an 8-K filing with the Securities and Exchange Commission.

On Nov. 23, the company completed the sale of certain property located in Ashburn, Va., to Beaumeade Development Partners, LLC. Under the indenture governing the company's 12½ notes, the company was required to the use the net proceeds from the sale to redeem notes at par plus accrued interest.

The Sheridan Group is a Hunt Valley, Md.-based print and publishing company.

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