The New York Times Co. (NYSE:NYT) gained more than 8% Thursday after Manhattan’s largest newspaper announced the closing of its $225 million debt offering.

The company, which also operates the International Herald Tribune and the Boston Globe, as well as Web sites including About.com, said it plans to use proceeds from the deal for general corporate purposes, including debt payments and other financial obligations as part of its refinancing strategy.

“Our ability to execute this transaction on these terms underscores the confidence that the financial and investment communities have in our future,” said Janet L. Robinson, the newspaper’s chief executive.

The 6.625% senior notes due 2016 were offered to qualified institutional buyers.

News of the closing comes weeks after The New York Times posted a narrowed third-quarter loss, however investors still booed the results due to declines in circulation and print advertising that drove revenue lower.

The company said at the time that initiatives implemented the year prior helped it tighten operating costs, which came in virtually flat year-over-year at $522.9 million.