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Gannett prices $175M in convertible debt

Published 04/04/2018, 11:30 AM
© Reuters.  Gannett prices $175M in convertible debt
GCI
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  • Gannett (GCI -7.6%) has priced $175M in convertible debt at 4.75%.
  • The convertible senior notes are due 2024, and the initial purchaser in the private offering has an option to buy up to an additional $26.25M in notes.
  • The initial conversion rate is 82.4572 shares per $1,000 in principal, equivalent to a per-share price of $12.13. Gannett shares are currently at $9.15.
  • Now read: Here's Your 50 Top-Yield Consumer Cyclical Dividend Stocks For March (And Net Gains, Too)


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