ABS-CBN Broadcasting postpones $150 million five-year notes, cites market volatility

By Paul A. Harris

St. Louis, Nov. 3 - ABS-CBN Broadcasting postponed its $150 million five-year senior secured notes offer (Ba3/B+) on Monday, according to a market source.

The company cited market volatility as its reason for the postponement, the source added.

No new timing was heard on the deal that was to be led by joint bookrunners Bear Stearns & Co. and Credit Suisse First Boston.

Price talk of 9¼% area had previously been heard on the notes.

The Philippine broadcasting company intended to use the proceeds to repay debt.

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