Dex Media buys back $35.2 million of bank debt at a discount

By Sara Rosenberg

New York, Sept. 18 – Dex Media Inc. has repurchased bank debt at two of its operating subsidiaries, which will result in the retirement of about $35.2 million of loans for around $29 million in cash, according to a news release.

Of the total amount, $19.8 million of the bank debt is at the SuperMedia Inc. subsidiary, and it will be retired at a discount of 86 for $17 million in cash, and $15.4 million is at the R.H. Donnelley Inc. subsidiary, and it will be retired at a discount of 78 for $12 million in cash.

When the repurchase was launched, the company was offered to use up to $17 million to buy back SuperMedia bank debt at a price of 86 to 90 and up to $12 million to repurchase R.H. Donnelley bank debt at a price of 77 to 81.

Settlement of the prepayments were expected to take place on Thursday.

Dex Media is a Texas-based full-service media company.

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