Business News

Morris Publishing Obtains Extension of Forbearance Period on Overdue Interest Payments

Monday 07. September 2009 - Morris Publishing Group, LLC announced today that it has obtained an extension until September 11, 2009 to make two semi-annual interest payments of $9.7 million on its senior subordinated notes originally due Feb. 1, 2009 and August 3, 2009. The holders of more than 80 percent of the outstanding amount of senior subordinated notes have agreed to extend the forbearance period for these payments.

Morris Publishing’s senior bank group also agreed to extend until September 11, 2009 the waiver of the cross defaults arising from the overdue interest payments on the senior subordinated notes.