By Paul A. Harris
St. Louis, Dec. 16 - Hollinger International Publishing Inc. priced $300 million of senior notes due Dec. 15, 2010 (B2/B) at par Monday to yield 9%, according to a syndicate source.
Price talk was for a yield of 9%-9¼%.
Wachovia Securities, Inc. was bookrunner.
Proceeds from the Rule 144A notes will be used to redeem existing notes, to make a distribution to Hollinger International and for general corporate purposes.
The issuer is a subsidiary of New York City-based Hollinger International Inc. which owns English-language newspapers in the U.S., the U.K. and Israel.
| Issuer: | Hollinger International Publishing Inc.
|
| Amount: | $300 million
|
| Maturity: | Dec. 15, 2010
|
| Security description: | Senior notes
|
| Bookrunner: | Wachovia Securities
|
| Coupon: | 9%
|
| Price: | Par
|
| Yield: | 9%
|
| Price talk: | 9%-9¼%
|
| Spread: | 506 basis points
|
| Call features: | Callable on Dec. 15, 2006 at 104.50, 102.25 par on Dec. 15, 2008 and thereafter
|
| Equity clawback: | Until Dec. 15, 2005 for up to 35% at 109
|
| Settlement date: | Dec. 23, 2002 (T+5)
|
| Ratings: | Moody's: B2
|
| Standard & Poor's: B
|
| Rule 144A Cusip: | 435572AD4
|
| Regulation S Cusip: | U43779AA2
|
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