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Article: The New York Times Company Enters into Agreement with Banco Inbursa and Inmobiliaria Carso for $250 Million in Senior Unsecured Notes.
- Article from:
- Business Wire
- Article date:
- January 20, 2009
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NEW YORK -- The New York Times Company today announced that it had entered into a private financing agreement with Banco Inbursa, S. A., Institucion de Banca Multiple, Grupo Financiero Inbursa ("Banco Inbursa") and Inmobiliaria Carso for an aggregate amount of $250 million ($125 million each) in senior unsecured notes due 2015 with detachable warrants. The notes will rank equally and ratably on a senior unsecured basis with all senior unsecured obligations of The New York Times Company.
"This agreement provides us with increased financial flexibility to continue to execute on our long-term strategy," said Janet L. Robinson, president and CEO. "The proceeds from ...