250.00M for The New York Times Company
The New York Times Company (NYSE: NYT) announced a private placement (via New York Private Placement Memorandum) of 14.053% senior unsecured notes due January 15, 2015 and warrants for gross proceeds of $250,000,000 with Inmobiliaria Carso, S.A. de C.V. and Banco Inbursa S.A., Institución de Banca Múltiple, Grupo Financiero Inbursa on January 19, 2009. The notes will bear a coupon rate of 14.053% per annum, payable semi-annually on each January 15 and July 15, commencing July 15, 2009, consisting of, 11.053% per … annum cash interest, and 3% per annum which may, at the company’s option, be paid in cash or paid-in-kind. The notes will mature on January 15, 2015. The company will also issue detachable warrants to purchase 15,900,000 class A common shares at an exercise price of $6.3572 per share until January 15, 2015. Each investor purchased an equal number of notes and warrants in the transaction. SunTrust Robinson Humphrey, Inc. acted as the sole placement agent and Goldman Sachs advised the company in connection with this transaction. Morgan, Lewis & Bockius LLP will act as the legal advisor to the company.
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