World Directories €545 million equivalent euro notes talked 8½%-8¾%, dollar notes 8 3/8%-8 5/8%

By Paul A. Harris

St. Louis, Nov. 29 - WDAC Subsidiary Corp. (World Directories) issued price talk Monday on its €545 million equivalent of 10-year senior notes (CCC+), which are to be priced Tuesday in dollar and euro tranches, according to a market source.

Price talk is 8½% to 8¾% on the euro-denominated notes and 8 3/8% to 8 5/8% on the dollar-denominated notes. Tranche sizes are yet to be determined.

JP Morgan, Goldman Sachs & Co. and Credit Suisse First Boston are joint bookrunners for the Rule 144A/Regulation S offering with no registration rights.

The notes will come with five years of call protection.

Proceeds will be used to repay bank debt incurred in Apax Partners' and Cinven's acquisition of VNU's World Directories Group.

The company produces telephone books and Yellow Pages directories in Belgium, The Netherlands, Ireland, Portugal, Romania, Puerto Rico and South Africa.

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