Valassis holders put back 99.95% of secured convertibles due 2033

By Jennifer Chiou

New York, May 23 - Valassis Communications Inc. announced that it accepted puts for $239.67 million, or 99.95%, of its senior secured convertible notes due 2033.

The holders' right to require the company to purchase the securities ended at 5 p.m. ET on Wednesday.

On April 15, the company said that it drew down its about $160 million delayed-draw term loan, primarily to fund the exercise of put rights.

Following the put, $120,000 of notes remains outstanding.

Questions should be directed to the paying agent, Bank of New York Mellon Corp. (attn: David Mauer, 212 815-3687).

Valassis is a Livonia, Mich.-based marketing services company.

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