New Issue: MDC sells upsized $110 million tap of 6¾% notes due 2020 at 103.75

By Paul A. Harris

Portland, Ore., Nov. 12 - MDC Partners Inc. priced an upsized $110 million add-on to its 6¾% senior notes due 2020 (B3/B-/) at 103.75 to yield 5.766% on Tuesday, according to a market source.

The deal was upsized from $100 million.

The reoffer price came at the rich end of the 103.25 to 103.75 price talk.

J.P. Morgan Securities LLC and Goldman Sachs & Co. were the joint bookrunners.

The New York-based provider of business technology, marketing communications and data analytics services plans to use the proceeds for general corporate purposes.

Issuer:	MDC Partners Inc.
Amount:	$110 million, increased from $100 million
Proceeds:	$114 million
Maturity:	April 1, 2020
Security description:	Add-on to 6¾% senior notes due April 1, 2020
Bookrunners:	J.P. Morgan Securities LLC, Goldman Sachs & Co.
Co-managers:	BMO Securities, Wells Fargo Securities LLC
Coupon:	6¾%
Price:	103.75
Yield to worst:	5.766%
Spread:	362 bps
First call:	April 1, 2016 at 103.375
Trade date:	Nov. 12
Settlement date:	Nov. 15 with accrued interest
Ratings:	Moody's: B3
	Standard & Poor's: B-
Distribution:	Rule 144A and Regulation S
Price talk:	103.25 to 103.75
Marketing:	Quick to market
Original issue:	$550 million priced at par on March 15, 2013
Fungibility:	Add-on notes will be immediately fungible with the original notes
Total issue size:	$660 million

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