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 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.