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Dex Media, SuperMedia, R.H. Donnelley offer to buy back bank debt
By Angela McDaniels
Tacoma, Wash., Nov. 15 - Dex Media, Inc. announced four offers to repurchase bank debt in an 8-K filing with the Securities and Exchange Commission.
SuperMedia Inc. will use up to $80 million to repurchase its bank debt at a price of 70% to 75% of par, R.H. Donnelley Inc. will use up to $7 million to repurchase its bank debt at a price of 62% to 65% of par, Dex Media East, Inc. will use up to $6 million to repurchase its bank debt at a price of 66% to 69% of par, and Dex Media West, Inc. will use up to $8 million to repurchase its bank debt at a price of 75% to 78% of par.
The offers will expire at 5 p.m. ET on Nov. 22.
The companies' senior secured credit facilities were amended and restated in connection with the completion of the merger between Dex One Corp. and SuperMedia on April 30, when the two companies also exited Chapter 11 bankruptcy. The terms of the amended facilities allow the companies to repurchase and retire debt below par, subject to some conditions.
Deutsche Bank Trust Co. Americas is the administrative agent and collateral agent for the R.H. Donnelley facility, and JPMorgan Chase Bank, NA is the administrative agent and collateral agent for the other facilities.
Dex One is a Cary, N.C.-based marketing services provider. SuperMedia is a Dallas-based directory publisher.
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