Thursday, February 5, 2009

Gatehouse Media's credit lines reduced

Struggling newspaper publisher Gatehouse Media Inc. has had its lines of credit reduced by $35 million through an amended loan agreement with its lenders.

The amendment agreement also enables Gatehouse to repurchase certain outstanding term loans at prices below par value, assuming it doesn’t default on those loans and can meet certain liquidity and credit benchmarks at the time of purchase.

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