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R.H. Donnelley receives tenders of $550.5 million notes, extends early participation deadline
New York, May 22 - R.H. Donnelley Corp. announced that its subsidiary R.H. Donnelley Inc. received tenders of $550.5 million of notes in its exchange offer.
The company also said it is extending the early participation deadline to match the final expiration time of midnight ET on June 6. The early participation deadline was originally 5 p.m. ET on May 21.
Donnelley did not give a breakdown of the response so far in the offer.
On May 8 it launched an exchange offer to refinance the following series of its notes: $35 million of 6 7/8% senior notes due 2013, $50 million of 6 7/8% series A-1 senior discount notes due 2013, $90 million of 6 7/8% series A-2 senior discount notes due 2013, $300 million of 8 7/8% series A-3 senior notes due 2016 and $225 million of 8 7/8% series A-4 senior notes due 2017.
The company is offering new 11¾% senior notes due May 15, 2015.
Holders who tender by the early participation deadline will receive the $30.00 participation amount, which is included in the payout.
For each $1,000 principal amount of old notes, R.H. Donnelly Inc. said it will exchange $682.50 of new notes for the 6 7/8% senior notes due 2013, $682.50 for the series A-1 notes, $682.50 for the series A-2 notes, $705.00 for the series A-3 notes and $700.00 for the series A-4 notes.
The offer is conditioned upon the completion of an amendment to R.H. Donnelley Inc.'s credit facility.
The information agent is MacKenzie Partners, Inc. (800 322-2885 or call collect 212 929-5500).
R.H. Donnelley is a Yellow Pages and online local commercial search company based in Cary, N.C.
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