Advertising Directory Solutions' $210 million eight-year notes talked at 9¼%-9½%, to price Thursday

By Paul A. Harris

St. Louis, Oct. 26 - Price talk on Advertising Directory Solutions Holdings' (Superpages Canada) $210 million offering of eight-year fixed-rate senior notes (Caa1/B-) emerged Tuesday at 9¼% to 9½%, according to a syndicate source.

Pricing is expected on Thursday.

JP Morgan, Banc of America Securities, Deutsche Bank Securities and Merrill Lynch & Co. are joint bookrunners for the Rule 144A offering.

The notes will come with one year of call protection after which they will become callable at 103, with the premium declining annually to 102, 101, and to par.

Proceeds will be used to help fund the acquisition of the Verizon Communications directory operations in Canada by Bain Capital.

The company is a Burnaby, B.C.-based directories publisher.

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