The Columbus Bank and Trust name has popped up in another financial transaction of sorts.
Augusta, Ga.-based Morris Publishing Group said it has refinanced its loans under more favorable terms with the Columbus bank, which is an affiliate of Synovus Financial Corp. The amount was not disclosed.
Morris, which has newspapers in the Georgia cities of Augusta, Savannah and Athens, announced the move last Thursday. The newspaper company emerged from bankruptcy in early 2010 and has been working to pay down its debt and transition to a digital-first media operation.
Under its restructuring, Morris said it is paying off all of its public by Aug. 10.
CB&T also recently sold a $22 million loan note to Yellow Sign Inc., a development arm of Waffle House Inc. The move was orchestrated by Callaway Gardens in Pine Mountain, Ga., to wipe away as much debt as possible from the resorts books.
Callaway still owes CB&T $8 million and is trying to sell more of its land to pay that off.