Morris Publishing granted waiver

Friday, May 29, 2009 1:36 PM
Last updated 7:03 PM
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Morris Publishing Group has been granted another waiver of a $9.7 million debt interest payment that was due Thursday.

Morris now has until June 12 to make the interest payment on $278 million in debt that was originally scheduled to be paid Feb. 1.

Holders of more than 80 percent of the outstanding amount of the notes have agreed to extend the forbearance period for the payment, the company announced this afternoon.

Augusta-based Morris Publishing owns The Augusta Chronicle and 12 other daily newspapers.

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FedupwithAUG
0
Points
FedupwithAUG 05/30/09 - 01:34 pm
0
0
Give billy some more time to

Give billy some more time to hide some money. Buy a few more thousand acres from IP.

justus4
101
Points
justus4 05/31/09 - 06:04 am
0
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What authority granted the
Unpublished

What authority granted the waiver and what were the conditions? Probably too much info being provided to answer those questions, but what happens after the June 12th deadline? Another waiver...or maybe execute a default swap maneuver.

disssman
6
Points
disssman 06/01/09 - 06:53 pm
0
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I just hope they aren't

I just hope they aren't receiving stimulus money. And if they are I hope the government is in charge of the Board of Directors.

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