Sharechat Logo

Yellow Pages considers $300 mill bond offer

Thursday 9th August 2007

Text too small?
Yellow Pages Group (YPG) says it is considering an offer of up to $300 million of six-year secured, subordinated bonds to New Zealand investors.

The bonds, to be issued by YPG Bond Finance, would be secured, subordinated and cumulative debt securities, carrying a fixed rate of interest to be paid on a semi-annual basis until maturity on 31 October 2013.

The minimum interest rate and applicable margin for the proposed offer, which is expected to open in September, will be set following a bookbuild process.

CCMP Capital and Teachers' Private Capital - the private investment arm of Ontario Teachers' Pension Plan - paid Telecom $2.24 billion for Yellow Pages in April. It is intended that proceeds from the issue of bonds would be used to repay part of the acquisition funding.

The offer is expected to be underwritten by ABN AMRO New Zealand, Barclays Capital and Deutsche Bank AG.

Offer documents are due out late August.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

KMD - 1H FY2024 Interim Results
SCT - Resignation of Chief Executive Officer
March 19th Morning Report
SKC - APPOINTMENT OF CHIEF INFORMATION OFFICER
NWF - Chief Executive Officer Warren Koia Resignation
March 18th Morning Report
Pacific Edge Directors Give Notice of Retirement
Meridian Energy monthly operating report for February 2024
Another unworkable farming rule bites the dust
March 14th Morning Report