Lee Enterprises intends to raise about $1.05 billion in a sale of senior secured notes in two parts, The Wall Street Journal reports. The publisher of newspapers and other local publications will offer $675 million of first-lien senior secured notes due 2017. The other $375 million of second-lien senior secured notes are scheduled to mature in 2018. The company intends to use net proceeds to refinance all of its existing debt, which includes $147 million in notes and $878.8 million due to mature in April 2012. Credit Suisse and Deutsche Bank will be the joint bookrunners for the offering.

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