R.H. Donnelley senior notes talked at 9%-9¼%, senior subordinated notes at 11%-11¼%

By Paul A. Harris

St. Louis, Nov. 18 - Price talk emerged Monday on the two tranches of R.H. Donnelley Corp.'s $750 million of new high-yield issuance.

Talk is 9%-9¼% on Donnelley's $300 million of eight-year non-call-four senior notes (B1/B+) while the $450 million of 10-year non-call-five senior subordinated notes (B2/B+) are being talked at 11%-11¼%.

The deal is expected to price Wednesday or Thursday.

The Rule 144A transaction is coming to market via joint bookrunners Salomon Smith Barney, Bear Stearns & Co. and Deutsche Bank Securities Inc.

The $2.23 billion financing of R.H. Donnelley's acquisition of Sprint's directories publishing business also includes a $1.6 billion senior secured credit facility (Ba3/BB) and a $200 million cumulative convertible preferred investment by GS Capital.

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

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