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Yellow Pages Limited Announces Pricing of $315 Million of Senior Secured Notes
Yellow Pages Limited Announces Pricing of $315 Million of Senior Secured Notes Can...
About this update from Yellow Pages Ltd.
[{"type":"text","content":"\n\n\n\nYellow Pages Limited Announces Pricing of $315 Million of Senior Secured Notes\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\n\nCanada NewsWire\nMONTREAL, Oct. 12, 2017\n\n\n\nNOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA\n\n\n\nMONTREAL, Oct. 12, 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 priced its previously announced offering (the \"Offering\") of Senior Secured Notes. The Issuer will issue $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 equal semi-annual instalments in arrears on May 1 and November 1 of each year commencing May 1, 2018.\n\nThe Notes will be guaranteed by the Company and the Company's subsidiaries (collectively, the \"Guarantors\") and secured by first-priority liens and security interests, subject to permitted liens, in substantially all of the assets (other than the assets securing the Issuer's asset-based debt facility) now owned or hereafter acquired by the Issuer and the Guarantors. The Notes will be senior secured obligations of the Issuer. The Notes will rank equally in right of payment with all indebtedness of the Issuer that is not expressly subordinated in right of payment to the Notes, and the Notes will rank senior in right of payment to all existing and future subordinated indebtedness of the Company.\n\nThe Offering is being underwritten by BMO Capital Markets and National Bank Financial Markets, as joint bookrunners, in a syndicate that includes Canaccord Genuity, RBC Capital Markets, Beacon Securities and Casgrain (collectively, the \"Underwriters\").\n\nThe Notes will be offered in a private placement in Canada under available prospectus exemptions. ...