Yellow Media to redeem C$86.55 million in 5.5% exchangeable debentures

By Devika Patel

Knoxville, Tenn., June 8 - Yellow Media Inc. plans to redeem all C$86.55 million of its 5.5% exchangeable unsecured subordinated debentures due Aug. 1, 2011 on Aug. 1, according to a press release from subsidiary Yellow Pages Group Inc.

The debentures will be redeemed at par plus interest. The interest will be equal to C$27.50 per C$1,000 principal of debentures for a total redemption payment of C$1,027.50 per C$1,000 of debentures.

The company plans to finance the redemption with available cash and through its existing banking facilities and commercial paper program.

The media and marketing company is based in Montreal.

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