MDC Corp. increases price again in tender, eliminates dutch auction

New York, March 26 - MDC Corp. Inc. again increased the price at which it will buy notes in its tender offer for its 10½% senior subordinated notes due Dec. 1, 2006 and eliminated the dutch auction component.

The Toronto, Ont. business services company said it will now pay a fixed amount of $890 per $1,000 principal amount of notes.

Previously MDC had been accepting offers in the range of $860 to $880 per $1,000 principal amount, with the actual level to be set by dutch auction. Those levels were themselves an increase from $800 to $820 initially.

MDC also extended the deadline for holders to receive the consent fee to 5.00 p.m. ET on March 27 from 5.00 p.m. ET on March 22. The consent fee remains $10 per $1,000 principal amount.

The expiration of the tender was also pushed back to midnight ET on April 8 from midnight ET on April 4.

Goldman, Sachs & Co. is dealer manager for the offer and as solicitation agent for the consent solicitation.

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