Regional and local news publisher Johnston Press has announced the successful completion of its Capital Refinancing Plan (first announced on 9 May 2014).
Gross proceeds of £140.0 million have now been received by the group in connection with the placing and the rights issue, and further to the announcement made by the Company on 14 May 2014, gross proceeds of £220.5 million from the offering of £225.0 million 8.625% senior secured notes due 2019 at an issue price of 98% have now been released to the group from escrow.
All amounts outstanding under the existing lending facilities have been prepaid and cancelled in full, the private placement notes have been redeemed in full, and the New Revolving Credit Facility has become available.
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