Online commercial search company RH Donnelley Corp. (RHD) Monday reported that R.H. Donnelley Inc. has extended concurrent exchange offers of its 11.75% Senior Notes due May 15, in exchange for a part of the company's outstanding notes. The exchange offers will now expire on June 20, 2008.
The company revised the maximum amount offered for exchange of certain series of the old notes. Holders of the old notes, whose notes have been accepted for exchange before the early participation deadline, will be entitled for an early participation amount of $30.00 in principal amount of the new notes per $1,000 principal amount of the old notes accepted for exchange.
However, holders of the old notes, whose notes are accepted for exchange after the early participation deadline and prior to the expiration date, will receive only the applicable principal exchange amount and not the early participation amount.
The North Carolina-based RH Donnelley noted that if the principal amount of the old notes tendered before the expiration date exceeds the applicable amended maximum amount offered for exchange, the notes would be accepted on a pro-rata basis by series according to the principal amount of such series validly tendered prior to the expiration date and accepted for exchange.
RHD is trading at $4.78, down $0.21 or 4.21%, on a volume of about 507 thousand shares.
For comments and feedback: editorial@rttnews.com