Company Overview
Reading Eagle Company is a media company located in Reading,
PA, that has four main business units: newspaper publishing,
internet services, commercial printing and a radio station.
The Company is in its fifth generation of family ownership
and is the publisher of the leading daily newspaper in Berks
County, PA.
Situation
Reading Eagle needed to expand its facilities and purchase a
new
state-of-the-art printing press that would allow the Company
to (i) significantly reduce its costs, especially newsprint;
(ii) increase printing revenue opportunities; and (iii) provide
the ability to print different types of advertisements and
brochures.
Solution
Griffin was engaged by Reading Eagle to raise the capital
necessary to finance the project described above. Through its knowledge
of the tax-exempt financing products and New Market Tax Credit
incentives, Griffin was able to structure a transaction at extremely
low interest rates and with extended amortization to reduce the
Company's debt service requirements. Griffin successfully raised
the senior debt necessary for the project at very favorable rates
and terms. |
For more information on
this transaction, please contact David
M. McCanney, Managing Director, at 610.478.2142 or Thomas
G. Whalen, Jr., Vice President, at 610.205.6115. For more information
on Griffin’s services in general, contact any one of our investment
banking professionals.
Griffin is an investment bank providing merger and acquisition,
institutional private placement, and management buyout advisory
services, including related structuring, research and analysis,
and competitive capital raise or sale process management. Griffin
is licensed by FINRA (formerly NASD) and is a SIPC member. |
