Gannett Co., Inc (NYSE: GCI) has confirmed that it has decided to refinance nearly $500 million of its 11.5% term loan, maturing in 2024, with 6.0% convertible notes due in 2027. The refinancing option will lessen the outstanding term loan to $1.118 billion.

The option of refinancing will provide three major benefits to the company. The first benefit is that this decision will increase its savings and decrease its annual interest expense by $28 million per year. The second benefit is that this refinancing will decrease the unusual balance. The third benefit it will gain from this refinancing is that it will be able to prolong the maturity of nearly $500 million of debt by three years.

Gannett Co., Inc. (GCI) has seen some recent activity in the marketplace and its shares are trading at $2.1700. People are starting to take notice of GCI as the shares trading as high as $2.2000 and as low as $1.8100 at the time the article was written.

Gannett Co., Inc. (GCI) average trading volume is 1.46M. However, in today’s market session Gannett Co., Inc. (GCI) traded 5,390,116 shares yet. The 1st support level on GCI is $1.69 and the 1st upside resistance level on GCI is $3.03. GCI 50-day moving average is $1.4336 and GCI 200day moving average is $1.5099.

Gannett Co., Inc. (GCI) most recent performance has been specified by the recent movement in GCI shares. GCI has performed 17.57% over the past 30 days, GCI has performed 6.10% over the past 3 months and GCI has shown -72.64% over the past 12 months. Gannett Co., Inc. (GCI) has a 1 year range of $0.6300 to $7.0600. Gannett Co., Inc. (GCI) is trading 227.78% from its 1 year low and -70.75% from its 1 year high. Gannett Co., Inc. (GCI) is indicating a 14.56% short float indicating the sum short in the float.

GCI has 132.22M shares outstanding and 129.27M shares in the float. Gannett Co., Inc. (GCI) at this time has a market cap of $234.50M and an income of -643.40M. The EPS next quarter for GCI is -0.34 and the forecasted EPS next year is 83.50%. The market cap of Gannett Co., Inc. (GCI) at $234.50M represents how many People own shares of GCI and is calculated off the last price ($2.1700) of GCI and the sum of shares outstanding (132.22M) with Gannett Co., Inc. (GCI).

Gannett Co., Inc. (GCI) has aggregate cash (mrq) of 188.96M, aggregate cash per share (mrq) of 1.41, aggregate debt of GCI is at 1.96B and aggregate debt/equity (mrq) is 455.18. . Gannett Co., Inc. (GCI) operating cash flow (ttm) is 1.28M, GCI leveraged free cash flow (ttm) is 246.06M.

GCI is trading 42.81% above (bullish) its SMA20, 40.90% above (bullish) its SMA50 and 4.96% above (bullish) its SMA200.