Business & Real Estate

McClatchy moves trim debt by $25 million

The McClatchy Co., publisher of The Sacramento Bee, announced Tuesday that it had pared its debt by $25 million.

The Sacramento company said it had repurchased slightly more than $10 million in aggregate principal amount of its 5.75 percent notes due in 2017 and $15 million of its 9 percent secured notes due in 2022 for $22.9 million plus accrued and unpaid interest in a privately negotiated transaction.

The company said its total debt balance, after the repurchase, is $966.1 million.

Elaine Lintecum, McClatchy’s chief financial officer, said, “We continue to execute on our plan to reduce our debt obligations while at the same time managing the digital transformation of our business.”

McClatchy operates media companies in 28 U.S. markets in 14 states.

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