Gannett (GCI) said Friday it prepaid about $57.5 million on its five-year first lien term loan facility.
In Q1, the company has reduced its first lien debt to $792.5 million from $850 million.
Gannett is well placed to further improve its capital structure this year and expects to repay "well over" $100 million of debt via asset sales and continued free cash flow growth, Chief Executive Michael Reed said.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.