10:41:27 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Postmedia Network Canada Corp
Symbol PNC
Shares Issued 39,265,200
Close 2014-10-29 C$ 2.00
Market Cap C$ 78,530,400
Recent Sedar Documents

Postmedia issues $140-million in subscription receipts

2014-10-31 11:46 ET - News Release

Mr. Doug Lamb reports

POSTMEDIA ANNOUNCES CLOSING OF $140 MILLION OF DEBT SUBSCRIPTION RECEIPTS

Further to its announcement of the proposed acquisition of Sun Media Corp.'s English language newspapers, specialty publications and digital properties on Oct. 6, 2014, Postmedia Network Canada Corp. has closed and issued debt subscription receipts resulting in total gross proceeds to the company of $140-million. The subscription receipts will bear interest at 8.25 per cent per year and are exchangeable for an equal amount of the company's 8.25-per-cent senior secured notes due 2017 upon closing of the Sun Media acquisition without further consideration, subject to certain conditions.

Postmedia also announced that it has completed the consent solicitation process with the holders of its existing notes to approve, amongst other things, amendments to the existing note indenture required to facilitate the incremental financing of the additional notes. The company received consents representing approximately 97 per cent of the outstanding notes.

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