Home > Boards > US Listed > Media - Newspapers/Print > New Media Investment Group Inc. (NEWM)

New Media Announces Successful Debt Refinancing (6/04/14)

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
Enterprising Investor Member Profile
Member Level 
Followed By 205
Posts 10,682
Boards Moderated 10
Alias Born 04/05/09
160x600 placeholder
RadNet Set to Join S&P SmallCap 600 PR Newswire (US) - 11/14/2019 5:57:00 PM
New Media and Gannett Announce Shareholder Approvals of Merger Agreement Business Wire - 11/14/2019 10:22:00 AM
Current Report Filing (8-k) Edgar (US Regulatory) - 11/5/2019 6:06:45 AM
Amended Statement of Beneficial Ownership (sc 13d/a) Edgar (US Regulatory) - 10/31/2019 5:13:02 PM
Quarterly Report (10-q) Edgar (US Regulatory) - 10/31/2019 4:24:09 PM
Filing of Certain Prospectuses and Communications in Connection With Business Combination Transactions (425) Edgar (US Regulatory) - 10/31/2019 6:41:54 AM
Current Report Filing (8-k) Edgar (US Regulatory) - 10/31/2019 6:41:14 AM
New Media Announces Third Quarter 2019 Results Business Wire - 10/31/2019 6:30:00 AM
Current Report Filing (8-k) Edgar (US Regulatory) - 10/30/2019 6:17:35 AM
New Media and Gannett Announce the Board of Directors for the Combined Company Business Wire - 10/29/2019 4:48:00 PM
New Media Announces European Commission Regulatory Clearance for Merger with Gannett Business Wire - 10/23/2019 4:15:00 PM
Current Report Filing (8-k) Edgar (US Regulatory) - 10/17/2019 7:47:03 AM
New Media Announces Dividend and Schedules Third Quarter 2019 Results Business Wire - 10/16/2019 6:45:00 AM
Notice of Effectiveness (effect) Edgar (US Regulatory) - 10/11/2019 6:00:53 AM
Prospectus Filed Pursuant to Rule 424(b)(3) (424b3) Edgar (US Regulatory) - 10/10/2019 5:18:37 PM
Registration Statement for Securities to Be Issued in Business Combination Transactions (s-4/a) Edgar (US Regulatory) - 10/3/2019 5:27:59 PM
Initial Statement of Beneficial Ownership (3) Edgar (US Regulatory) - 10/3/2019 5:02:52 PM
Initial Statement of Beneficial Ownership (3) Edgar (US Regulatory) - 10/3/2019 4:59:13 PM
Current Report Filing (8-k) Edgar (US Regulatory) - 10/1/2019 6:05:29 AM
Filing of Certain Prospectuses and Communications in Connection With Business Combination Transactions (425) Edgar (US Regulatory) - 10/1/2019 6:01:47 AM
New Media Sets Date for Special Meeting of Shareholders to Vote on Merger Agreement with Gannett Business Wire - 9/30/2019 6:45:00 AM
Registration Statement for Securities to Be Issued in Business Combination Transactions (s-4/a) Edgar (US Regulatory) - 9/30/2019 6:03:14 AM
Filing of Certain Prospectuses and Communications in Connection With Business Combination Transactions (425) Edgar (US Regulatory) - 9/26/2019 3:13:47 PM
Current Report Filing (8-k) Edgar (US Regulatory) - 9/26/2019 3:11:41 PM
Current Report Filing (8-k) Edgar (US Regulatory) - 9/19/2019 4:50:21 PM
Enterprising Investor Member Level  Wednesday, 06/04/14 10:49:38 PM
Re: None
Post # of 60 
New Media Announces Successful Debt Refinancing (6/04/14)

NEW YORK--(BUSINESS WIRE)--New Media Investment Group Inc. (“New Media” or the “Company”, NYSE:NEWM) announced today the successful completion of a new $200.0 million term loan as well as a $25.0 million revolving credit facility. The term loan is priced at L+6.25% with a 1.00% LIBOR floor and has mandatory annual amortization of 1.00%. The revolver is priced at L+5.25%, with a step down based on the Company’s total leverage ratio. The new financing structure will be accretive to Distributable Cash Flow (“DCF”) per share by $0.14 in fiscal year 2015, and $0.26 in fiscal year 2016, through rate and amortization improvement. The proceeds of the new term loan will be used to repay New Media’s existing facilities and transaction costs, with the balance of the proceeds remaining available for investments and other corporate purposes.

“The new credit facility greatly improves our operational flexibility and DCF,” said Mike Reed, Chief Executive Officer of New Media. “By combining our multiple facilities into one, we are able to increase the overall liquidity of the Company.

“With access to an additional $25.0 million through a revolver, New Media is in a great position to continue its acquisition strategy while concurrently paying 40-50% of Free Cash Flow through a dividend starting after Q2. We continue to believe our mergers and acquisition strategy, combined with our plan to pay a stable quarterly dividend, will drive substantial shareholder value.”

About New Media Investment Group

New Media is focused primarily on investing in a high quality, diversified portfolio of local media assets, and on growing existing advertising and digital marketing businesses. The Company is one of the largest publishers of locally based print and online media in the United States as measured by number of daily publications. The Company operates in 356 markets across 24 states. New Media’s portfolio of products, which includes 429 community publications, 356 related websites, and six yellow page directories, serves more than 130,000 business advertising accounts and reaches over 12 million people on a weekly basis.

For more information regarding New Media and to be added to our email distribution list, please visit www.newmediainv.com.

http://www.businesswire.com/news/home/20140604006330/en/Media-Announces-Successful-Debt-Refinancing#.U4_ak61OWUk

"Someone said it takes 30 years to be an instant success" - Gabriel Barbier-Mueller, CEO of Harwood International
Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist