New Issue: Hollinger upsized $120 million eight-year notes yield 12%,

By Paul A. Harris

St. Louis, March 5 - Hollinger Inc. upsized to $120 million from $110 million its offering of 11 7/8% senior secured notes due March 1, 2011 (B3/B) and priced them Wednesday at 99.377 to yield 12%, according to a syndicate source.

Price talk was for a yield in the 12% area.

Wachovia Securities, Inc. was the bookrunner.

Proceeds from the Rule 144A notes will be used to repay bank debt.

The issuer is a newspaper publisher with English-language newspapers in the United States, Great Britain, and Israel.

Issuer:	Hollinger Inc.
Amount:	$120 million (increased from $110 million)
Maturity:	March 1, 2011
Security description:	Senior secured notes
Bookrunner:	Wachovia Securities
Coupon:	11 7/8%
Price:	99.377
Yield:	12%
Spread:	866 basis points
Call features:	Callable on March 1, 2007 at 105.938, then at 102.969, declining to par on March 1, 2009 and thereafter
Equity clawback:	Until March 1, 2006 for 35% at 111.875
Settlement date:	March 10, 2003
Ratings:	Moody's: B3
	Standard & Poor's: B
Rule 144A Cusip:	43556CAE1
Price talk:	12% area

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