Gannett repays $46.9M of first lien debt using real estate proceeds; expects to exceed $130M reduction in 2023

USA TODAY Co., Inc.

Used $44.4M from Q3 real estate sales to reduce first lien debt by $46.9M.
Repurchased $18.5M of 6.00% first lien notes due 2026 at a discount using $16M.
Repaid $28.4M on senior secured term loan.
Year-to-date debt repayment ~$100M; raised 2023 target to at least $130M.
Expects first lien net leverage below 2.0x by year-end; CEO cites strong liquidity.

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