According to the company, the move secures its cashflow for "strategic investments" over the next four years.

Funds for the debt refinance have come from the Royal Bank of Scotland in Norwich, who will now take on Archant's day-to-day banking under terms of the deal, and the Bank of Ireland's media finance team.

Further terms of the deal have not been revealed.

Brian McCarthy, Archant group finance director, said: "2009 has been the most challenging year for raising new debt for many years. The media sector in particular has been under great pressure as a result of the recession and the banking world has also changed. We have concluded a great deal for Archant."

Archant was advised by KPMG's debt advisory team in London and by Mills & Reeve in Norwich. 

Zak Virgin, who led the Mills & Reeve team, said, "Archant is an important client for our firm and a major player in the local economy and the UK regional media industry."

Archant employs 1,750 people across England, with an annual turnover of around £175m. It publishes four daily regional newspapers, 60 weekly newspapers, as well as 80 monthly magazines and more than 180 websites.