SuperMedia, R.H. Donnelley begin offers to buy back loans at discount

By Susanna Moon

Chicago, Sept. 9 – SuperMedia Inc. began an offer to use up to $17 million to repurchase its bank debt at 86% of par to 90% of par, and R.H. Donnelley Inc. began an offer to use up to $12 million to repurchase its bank debt at a price of 77% to 81% of par.

The offers are being made under the amended senior secured credit facilities, which allow SuperMedia and Donnelley to repurchase and retire debt below par, according to an 8-K filing with the Securities and Exchange Commission.

The offers will end at 5 p.m. ET on Sept. 16.

Dex Media, Inc. amended the loan agreements in connection with its merger with SuperMedia on April 30, 2013 with JPMorgan Chase Bank, NA as administrative agent and collateral agent for the SuperMedia senior secured credit facility and with Deutsche Bank Trust Co. Americas as administrative agent and collateral agent under the Donnelley senior secured credit facility.

Dex One is a Cary, N.C.-based marketing services provider. SuperMedia is a Dallas-based directory publisher.

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