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Reed Elsevier calls all $461.03 million outstanding 7.75% senior notes
By Marisa Wong
Madison, Wis., Oct. 31 - Reed Elsevier Capital Inc. gave notice that it will redeem in full its $461,025,000 of outstanding 7.75% senior notes due 2014 on Dec. 6.
The redemption price will be the greater of (a) par plus accrued interest to the redemption date and (b) the sum of the present values of remaining scheduled payments, discounted on a semiannual basis at the Treasury rate plus 50 basis points.
Bank of New York Mellon is the trustee.
Reed Elsevier Capital is a wholly owned U.S. subsidiary of Reed Elsevier Group plc, a London-based publisher and information services provider.
The company issued $550 million of the 7.75% notes in January 2009.
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