Johnston Press refinancing secures future of your local newspaper

Chief Executive Officer of Johnston Press Ashley Highfield

Chief Executive Officer of Johnston Press Ashley Highfield

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Johnston Press, owner of the Reporter Series, including the Dewsbury Reporter, Mirfield Reporter, Batley and Birstall News, Spenborough Guardian and Morley Observer, has successfully completed its £360m capital refinancing plan, having raised £140m from a rights issue and a further £220m from a new fixed rate bond.

The media company, which owns 250 newspapers and almost 200 local news and e-commerce websites, announced its intention to refinance in May as part of plans to fund future business growth.

Shareholders took up 92.25 per cent of some 4.6 billion new shares that were issued and the company’s underwriters, Panmure Gordon and JP Morgan Cazenove, secured investors for the remaining 7.75 per cent. The new shares are now trading on the stock exchange.

 

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