New Issue: Adelphia Communications $500 mln 5-year notes yield 10.5%

By Paul A. Harris

St. Louis, Mo., Oct. 19 - Adelphia Communications Corp. priced $500 million of five-year senior notes to yield 10.5% Friday, an informed source told Prospect News. The bookrunner was Credit Suisse First Boston.

Issuer: Adelphia Communications Corp.

Book manager: Credit Suisse First Boston

Amount: $500 million

Type: Senior unsecured notes

Maturity: Nov. 1, 2006

Yield: 10.5%

Price: 99.039

Coupon: 10¼%

Spread: 669 basis points

Call: Non-callable

Settlement: Oct. 24 flat

End

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