Berkshire Refinances $94 Million of Lee Debt, Extending Maturity

Warren Buffett’s Berkshire Hathaway Inc. (BRK/A) agreed to refinance $94 million of newspaper publisher Lee Enterprises Inc.’s long-term debt.

The deal cuts the interest rate to 9 percent and extends the maturity to April 2017, Davenport, Iowa-based Lee said today in a statement. The debt was to expire in December 2015 with rates climbing as high as 12.8 percent.

To contact the reporter on this story: Noah Buhayar in New York at nbuhayar@bloomberg.net

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net

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