Morris Publishing redeems $3.68 million of secured floaters due 2014

By Susanna Moon

Chicago, Feb. 21 - Morris Publishing Group, LLC redeemed $3,677,875 principal amount of its floating-rate secured notes due 2014 on Tuesday, according to an 8-K filing with the Securities and Exchange Commission.

The redemption was funded with excess cash flow for the month ended Jan. 31.

The company also redeemed $1,368,398 of the floaters in January using excess cash from December.

As previously stated, the note terms require the company to use its monthly operating cash flow if the amount is at least $250,000, to repay its working capital facility and then to redeem the floating-rate secured notes.

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

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