Morris Publishing redeems $2.38 million of secured floaters due 2014

By Marisa Wong

Madison, Wis., March 15 - Morris Publishing Group, LLC redeemed $2,376,490 principal amount of its floating-rate secured notes due 2014 on Thursday, according to an 8-K filing with the Securities and Exchange Commission.

The redemption was funded with excess cash flow for the month ended Feb. 29.

The company previously redeemed $3,677,875 of the floaters in February and $1,368,398 of the floaters in January using excess cash from January and December, respectively.

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.

© 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.