Business News

The New York Times Company Announces Redemption of Its 4.5% Notes Due 2010

Tuesday 10. March 2009 - The New York Times Company announced today that it has called for redemption of all $250 million outstanding aggregate principal amount of its 4.5% notes due 2010.

The notes will be redeemed, in accordance with their terms, at a redemption price equal to the present value of the principal and unpaid interest, plus accrued interest to the redemption date. The Company will use the proceeds from its recently completed sale-leaseback for a portion of the space that the Company owns in its New York headquarters to fund the redemption payment.
This press release does not constitute a notice of redemption of the 4.5% notes due 2010. The redemption is being made solely pursuant to a notice of redemption dated March 9, 2009, which will be delivered to the holders of the notes by The Bank of New York Mellon, the trustee under the indenture governing the notes.