Monday, Media General Inc. (MEG) priced its previously announced private offering of senior secured notes due 2017. The face value of the Notes is $300 million with an interest rate of 11 3/4 %. The Notes were priced at 97.690% of face value, resulting in a yield to maturity of 12 1/4 %.
The notes are being made available in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended, with closing expected to occur on February 12, 2010. Media General intends to use the net proceeds from the offering to repay borrowings outstanding under its existing revolving credit facility.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.