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Morris Publishing redeems $2.49 million of secured floaters due 2014
By Tali David
Minneapolis, May 24 - Morris Publishing Group, LLC redeemed $2,491,322 principal amount of its floating-rate secured notes due 2014, according to an 8-K filing with the Securities and Exchange Commission.
The May 23 redemption was funded with excess cash flow for the month ended April 30.
As previously reported, 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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