Berkshire Refinances $94 Million of Lee Debt, Extending Maturity

Warren Buffett’s Berkshire Hathaway Inc. 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.

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