By Paul A. Harris
St. Louis, Jan. 11 - R.H. Donnelley (Holdco) priced $300 million of senior notes due Jan. 15, 2013 (B3/B+) at par to yield 6 7/8%, according to a market source.
Price talk on the eight-year notes was 6¾% to 6 7/8%.
Bear Stearns & Co. and JP Morgan were the bookrunners for the quick-to-market Rule 144A with registration rights issue.
Proceeds will be used to fund a preferred stock buyback.
R.H. Donnelley is a Cary, N.C.-based yellow pages publisher and directional media company.
| Issuer: | R.H. Donnelley (Holdco)
|
| Amount: | $300 million
|
| Maturity: | Jan. 15, 2013
|
| Security description: | Senior notes
|
| Bookrunners: | Bear Stearns & Co., JP Morgan
|
| Coupon: | 6 7/8%
|
| Price: | Par
|
| Yield: | 6 7/8%
|
| Spread: | 273 basis points
|
| Call protection: | Callable after four years at 103.438, then 101.719, par
|
| Equity clawback: | For 40%
|
| Trade date: | Jan. 11
|
| Settlement date: | Jan. 14
|
| Ratings: | Moody's: B3
|
| Standard & Poor's: B+
|
| Price talk: | 6¾%-6 7/8%
|
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