New Issue: MediaNews Group sells $300 million 10-year notes to yield 7%

By Paul A. Harris

St. Louis, Nov. 20 - MediaNews Group Inc. sold $300 million of 6 7/8% 10-year senior subordinated notes (B+) Thursday at 99.133 to yield 7%, or 276 basis points over Treasuries, according to a syndicate source.

Price talk on the notes, which mature Oct. 1, 2013, was 6¾%-6 7/8%.

Deutsche Bank Securities and Banc of America Securities ran the books on the Rule 144A deal. The co-managers were Wachovia Securities, BNY Securities Group, Fleet Securities and McDonald Investments.

MediaNews Group said proceeds will be used to repurchase or redeem the company's 8¾% senior subordinated notes due 2009.

The issuer is the Denver-based parent of Garden State Newspapers, which owns and operates daily and non-daily newspapers in 10 states.

Issuer: MediaNews Group Inc.

Amount:	$300 million
Maturity:	Oct. 1, 2013
Security description:	Senior subordinated notes
Bookrunners:	Deutsche Bank Securities, Banc of America Securities
Co-managers:	Wachovia Securities, BNY Securities Group, Fleet Securities, McDonald Investments
Coupon:	6 7/8%
Price:	99.133
Yield:	7%
Spread:	276 basis points
Call features:	Callable on Oct. 1, 2008 at 103.438, 102.292, 101.146, par on Oct. 1, 2011 and thereafter
Equity clawback:	Until Oct. 1, 2006 for 35% at 106.875
Settlement date:	Nov. 25, 2003
Rating:	Standard & Poor's: B+
Rule 144A Cusip:	58446MAA9
Price talk:	6¾%-6 7/8%

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