CBD Media buys back $2.18 million 8 5/8% notes during change-of-control tender

By Angela McDaniels

Seattle, March 21 - CBD Media LLC said it repurchased $2.18 million of its 8 5/8% senior subordinated notes due 2011 and none of CBD Media Holdings LCC's 9¼% senior notes due 2012 during an extended change-of-control tender offer that expired on March 16.

The number of notes tendered was unchanged from March 15, the original expiration date. The company began the offer on Feb. 13.

The offer was triggered by CBD's upcoming merger with Local Insight Media, LLC, which is expected to close before the end of the first quarter.

Under the terms of the note indentures, the company will pay $1,010 plus accrued interest for each $1,000 principal amount of notes tendered.

The depositary is HSBC Bank USA, NA (800 662-9844).

CBD Media is a Cincinnati-based multimedia publisher of Yellow and White Pages directories.

Englewood, Colo.-based Local Insight provides print directories and internet-based local search services through its subsidiaries in Alaska and the Caribbean.

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