CBD Media, Local Insight extend tender for CBD's 8 5/8% notes, 9¼% notes

By Jennifer Chiou

New York, March 16 - CBD Media LLC and Local Insight Media, LLC announced the extension of the change-of-control tender offer for all of CBD's 8 5/8% senior subordinated notes due 2011 and all of the 9¼% senior notes due 2012 of CBD Media Holdings LLC.

The offer will now expire at 5 p.m. ET on March 16, pushed back from March 15. It began on Feb. 14.

As of the close on March 15, the companies said that they received tenders from holders of $2.18 million of the 8 5/8% notes and none of the 9¼% notes.

As previously reported, the offer was triggered by CBD's upcoming merger with Local Insight, which is expected to close in the first quarter.

Under the terms of the note indentures, the company will pay $1,010 plus accrued interest for each $1,000 principal amount of notes tendered.

The companies also announced that the previously reported process of amending CBD's term loan facility has been completed, and lenders have agreed to waive the change-of-control provision of that loan.

The depositary is HSBC Bank USA, NA (800 662-9844).

CBD Media is a Cincinnati-based multimedia publisher of Yellow and White Pages directories.

Englewood, Colo.-based Local Insight provides print directories and internet-based local search services through its subsidiaries in Alaska and the Caribbean.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.