Gannett Refinances $1 Billion in Debt from Merger

USA Today: Gannett said it has refinanced about $1 billion in debt in a move that will lower the company’s interest payments and save tens of millions of dollars a year. The deal will lower the interest rate on the $1.045 billion in debt to 7.75% from 11.5%, saving the company $90 million in interest this year. The move refinances the remainder of the loan that bankrolled the merger of GateHouse Media parent New Media Investment Group and the company previously known as Gannett in November 2019.