New York Times
New York Times: Rescue Financing 8-K Filed
Submitted by Tyler Durden on 01/21/2009 21:25 -0500Most interestingly among the negative covenants listed:
- Creating liens on any properties
- Incur additional debt prior to March 2010, if pro forma leverage is higher than 2.75x
- Engage in sale/leaseback transactions, with up to $225 million carveout for NYT HQ building
- Merge or consolidate with other assets
- Transfer or sell assets, with any sales over $10 million have to be used to pay down debt
There is also a 101% change of control put.
Death Watch: New Entrant - New York Times
Submitted by Tyler Durden on 01/17/2009 18:39 -0500
The WSJ reports ($$$ link) that Mexican billionaire (or is that millionaire now, we need to double check) Carlos Slim Helu may bail out the New York Times.
Death Watch: New Entrant - New York Times
Submitted by Tyler Durden on 01/17/2009 18:39 -0500
The WSJ reports ($$$ link) that Mexican billionaire (or is that millionaire now, we need to double check) Carlos Slim Helu may bail out the New York Times.
