Journal Extends Credit Facility
August 19, 2010 at 4:25 AM (PT)
JOURNAL COMMUNICATIONS has amended its revolving credit facility and extended its maturity date.
The facility has an aggregate commitment of $299 million, $74 million maturing on JUNE 2nd, 2011 and $225 million maturing DECEMBER 2nd, 2013.
"We are pleased to have completed this amendment, which has enabled us to extend the maturity of our credit facility by an additional two-and-a-half years, while providing us with sufficient financial flexibility to operate our business, pay down debt and opportunistically grow our company. We appreciate the bank group's continued support," said JOURNAL Chairman STEVEN J. SMITH.