R.H. Donnelley's $750 million notes for Sprint directory acquisition could come next week

By Paul A. Harris

St. Louis, Mo., Nov. 6 - R.H. Donnelley Corp. is expected to bring its $750 million of Rule 144A notes to market during the week of Nov. 11, market sources told Prospect News on Wednesday.

Proceeds will be used to help finance R.H. Donnelley's $2.23 billion acquisition of Sprint's directory publishing business.

Salomon Smith Barney, Bear Stearns & Co. and Deutsche Bank Securities Inc. are joint bookrunners, sources said, adding that the deal will come with a $1.6 billion senior secured credit facility (Ba3) and a $200 million cumulative convertible preferred investment by GS Capital.

Moody's Investors Services rated the $300 million of senior notes B1 and $450 million of senior subordinated notes B2.

The issuer is a Purchase, N.Y.-based marketer of yellow pages advertising.

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