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New York Times Plans Offering to Pay Down Slim Debt
 Jennifer Saba - Reuters
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November 01, 2010
New York - The New York Times Co is seeking to raise $200 million through a senior notes offering to pay back Mexican billionaire Carlos Slim and for the use of other general expenses.
The company, which publishes its namesake newspaper and the Boston Globe, said on Monday that it intends to offer $200 million aggregate principal amount of senior notes due 2016.
Slim, who holds about 6.9 percent of the New York Times Class A shares, loaned the company $250 million in January 2009, with a due date of January 2015.
In October, New York Times Chief Executive Janet Robinson said it planned to pay back Slim's loan, which carries an interest rate of about 14 percent, in January 2012.
Shares of the company rose 0.7 percent to $7.72 in morning trade.
(Editing by Derek Caney)
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