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GateHouse gets $960M credit commitment


Published : Fri, 02 Feb 2007 16:19
By : Agencies
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FAIRPORT, N.Y. (AFX) - Newspaper publisher GateHouse Media Inc. said Friday that it received a commitment for $960 million of new credit facilities.

The company said Wachovia Capital Markets LLC and Goldman Sachs Credit Partners L.P. will structure, arrange, privately syndicate and underwrite a portion of the financing, which is expected to be completed this month.

Proceeds will be used to refinance existing debt, finance its SureWest Directories acquisition and for future acquisitions.

Last month GateHouse said it would buy SureWest for $110.5 million. The deal also includes the assumption of $3.5 million in working capital.

Shares added 9 cents to $19.63 in morning trading on New York Stock Exchange.

Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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