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Lee Enterprises, Incorporated Message Board

  • pjv2xyw9dww4b5 pjv2xyw9dww4b5 Feb 3, 2014 9:19 AM Flag

    refinancing news

     

    on the 2nd lien debt

    This topic is deleted.
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    • It's a shame about the warrants, but I am sure they got the best deal they could. The debt markets must still be very risk averse. On the positive side, extension to 2022 is huge, which will probably allow a better 1st lien refinancing than they otherwise would have gotten, and they save an extra $5 million/yr in interest expense starting in a couple months. The other positive is that the warrants are not at a discount to the current market price. Getting lenders to accept $4 warrants was a wild pipe dream just a couple of years ago.

 
LEE
2.95+0.09(+3.15%)Jan 30 4:02 PMEST

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