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Yellow Pages Limited Announces Closing of Offering of $315 Million of Senior Secured Notes and the Redemption by Yellow Pages Digital & Media Solutions Limited of all its Outstanding 9.25% Senior Secured Notes due November 30, 2018
Yellow Pages Limited Announces Closing of Offering of $315 Million of Senior Secured Notes...
About this update from Yellow Pages Ltd.
[{"type":"text","content":"\n\n\n\nYellow Pages Limited Announces Closing of Offering of $315 Million of Senior Secured Notes and the Redemption by Yellow Pages Digital & Media Solutions Limited of all its Outstanding 9.25% Senior Secured Notes due November 30, 2018\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nYellow Pages Limited Announces Closing of Offering of $315 Million of Senior Secured Notes and the Redemption by Yellow Pages Digital & Media Solutions Limited of all its Outstanding 9.25% Senior Secured Notes due November 30, 2018\nCanada NewsWire\nMONTREAL, Oct. 19, 2017\n\n\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA/\n\n\n\nMONTREAL, Oct. 19, 2017 /CNW Telbec/ - Yellow Pages Limited (TSX: Y) (\"Yellow Pages\" or the \"Company\") announced today that its wholly-owned subsidiary, Yellow Pages Digital & Media Solutions Limited (the \"Issuer\"), has closed its previously announced offering (the \"Offering\") of senior secured notes.\n\nThe Issuer issued $315 million in aggregate principal amount of 10.00% Senior Secured Notes due November 1, 2022 (the \"Notes\") at an issue price of $980 per $1,000 principal amount of Notes. The Notes will accrue interest from October 19, 2017 at a rate of 10.00% per annum, payable in semi-annual instalments in arrears on May 1 and November 1 of each year commencing May 1, 2018.\n\nThe Notes were offered in a private placement in Canada under available prospectus exemptions. The Notes were also offered in the United States to persons reasonably believed to be qualified institutional buyers under Rule 144A under the United States Securities Act of 1933, as amended (the \"Securities Act\"), and outside the United States to non U.S. persons as defined in and in accordance with Regulation S under the Securities Act.\n\nRedemption of the Existing Senior Secured Notes\n\nThe Issuer will use the net proceeds from the sale of the Notes, after deducting the underwriters' commissions and estimated expenses of the Offering, to redeem all of its outstanding ...