Yellow Media Limited Announces Exercise of Option to Redeem $27 Million of Senior Secured Notes
(firmenpresse) - MONTREAL, QUEBEC -- (Marketwired) -- 09/26/13 -- Yellow Media Limited (TSX: Y) announced today that its wholly-owned subsidiary, YPG Financing Inc. (the "Corporation"), will exercise its option to redeem $27 million aggregate principal amount (the "Redemption") of its 9.25% senior secured notes due November 30, 2018 (the "Notes") on the following terms:
The Redemption price has been determined in accordance with the terms of the Notes and the trust indenture dated December 20, 2012 governing the Notes. Unpaid and accrued interest on the Notes being redeemed will be paid as of the Redemption date. The Corporation will finance the Redemption with available cash.
"This redemption reiterates our commitment to reduce total debt and generate value for shareholders," said Ginette Maille, Chief Financial Officer of Yellow Media. "The Corporation will remain focused on debt reduction."
The Corporation made a $26.1 million mandatory redemption payment on the Notes on May 31, 2013 and completed an $8.0 million open market purchase on the Notes on September 25, 2013. Upon completion of the Redemption, $738,927,000 principal amount of Notes will remain outstanding. In addition, in accordance with the mandatory redemption provisions of the trust indenture governing the Notes, the Corporation will make at minimum a $73.9 million mandatory redemption payment on the Notes on December 2, 2013.
About Yellow Media Limited.
Yellow Media Limited (TSX: Y) is a leading media and marketing solutions company in Canada. Yellow Media Limited owns and operates some of Canada's leading properties and publications including Yellow Pages™ print directories, , and . Its online destinations reach 8.7 million unique visitors monthly and its mobile applications for finding local businesses and deals have been downloaded over 5.9 million times. Yellow Media Limited is also a leader in national digital advertising through , a division of Yellow Pages Group devoted to digital marketing and performance media services for national agencies and advertisers. For more information, visit .
This news release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Corporation.
Caution Concerning Forward-Looking Statements
This press release contains forward-looking statements about the objectives, strategies and financial conditions of Yellow Media Limited. These statements are forward-looking as they are based on our current expectations, as at September 26, 2013, about our business and on various estimates and assumptions. Our actual results could materially differ from our expectations if known or unknown risks affect our business, or if our estimates or assumptions turn out to be inaccurate. As a result, there is no assurance that any forward-looking statements will materialize. See the risk factors relating to our business in our August 8, 2013 Management's Discussion and Analysis. We disclaim any intention or obligation to update any forward-looking statements, except as required by law.
Contacts:
Investor Relations
Amanda Di Gironimo
Senior Manager, Corporate Finance and Investor Relations
(514) 934-2680
Media
Fiona Story
Senior Manager, Public Relations
(514) 934-2672
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 26.09.2013 - 12:00 Uhr
Sprache: Deutsch
News-ID 300490
Anzahl Zeichen: 0
contact information:
Town:
MONTREAL, QUEBEC
Kategorie:
Books & Publishing
Diese Pressemitteilung wurde bisher 248 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Yellow Media Limited Announces Exercise of Option to Redeem $27 Million of Senior Secured Notes"
steht unter der journalistisch-redaktionellen Verantwortung von
Yellow Media Limited (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
