New Issue: Advanstar ups add-on to $70 million, prices at 101.50 to yield 10.398%

By Paul A. Harris

St. Louis, Sept. 11 - Advanstar Communications Inc. priced an upsized $70 million add-on to its 10¾% second priority senior secured notes due Aug. 15, 2010 (B3/B-) at 101.50 on Thursday to yield 10.398%, according to a syndicate source.

Price talk was the 101 area and the deal was increased from $50 million.

Credit Suisse First Boston was the bookrunner on the Rule 144A deal.

Proceeds will be used to fund the acquisition of magazines and related custom project services from Thomson Corp.

The issuer is a Boston-based business information company.

The original $230 million offering priced at par on Aug. 4 to yield 10¾%.

Issuer:	Advanstar Communications Inc.
Face amount:	$70 million
Proceeds:	$71.05 million
Security description:	Add-on to 10¾% second priority senior secured notes due 2010
Bookrunner:	Credit Suisse First Boston
Maturity:	Aug. 15, 2010
Coupon:	10¾%
Price:	101.50
Yield to worst:	10.398% to Aug. 15, 2009
Spread:	689 basis points over 6% Treasury due August 2009
Call Features:	Callable after Feb. 15, 2008 at 105.375, then 102.688, declining to par on Aug. 15, 2009 and thereafter
Equity clawback:	Until August 15, 2006 at 110.75% for up to 35%
Settlement date:	Sept. 25, 2003 (T+10) (plus accrued interest from Aug. 18, 2003)
Ratings:	Moody's: B3
	Standard & Poor's B-
Rule 144A Cusip:	00758RAN4
Price talk:	101 area

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