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Dex Media Successfully Completes Bank Debt Repurchases

By Thryv Contributor | 06.16.14
Dex Media Successfully Completes Bank Debt Repurchases

DALLAS, Jun. 16, 2014 – Dex Media, Inc. (NASDAQ: DXM), one of the largest national providers of social, local and mobile marketing solutions through direct relationships with local businesses, today announced it successfully repurchased bank debt at three of its operating subsidiaries and will retire approximately $53.7 million in principal amount of bank debt for approximately $46.0 million in cash consideration.

The results of the bank debt repurchases are as follows:

EntityPrincipal Value
of Accepted Bids
Accepted PriceAggregate Cash Payment
to Lenders
SuperMedia Inc.$34.4 million84.25%$29.0 million
R.H. Donnelley Inc.$0 million0%$0 million
Dex Media East, Inc.$8.5 million82.20%$7.0 million
Dex Media West, Inc.$10.8 million92.50%$10.0 million

As announced on June 5, 2014, designated utilization and price ranges for the bank debt repurchases were as follows:

  • SuperMedia Inc. — offered to utilize up to $29 million to repurchase its bank debt at a price of 82.00% to 85.00% of par.
  • R.H. Donnelley Inc. — offered to utilize up to $8 million to repurchase its bank debt at a price of 67.75% to 70.75% of par.
  • Dex Media East, Inc. — offered to utilize up to $7 million to repurchase its bank debt at a price of 79.75% to 82.75% of par.
  • Dex Media West, Inc. — offered to utilize up to $10 million to repurchase its bank debt at a price of 90.00% to 93.00% of par.

This offer expired at 5:00 p.m. EDT on Thursday, June 12, 2014. Settlement of the prepayments will take place on or about Monday, June 16, 2014.

About Dex Media

Dex Media (NASDAQ: DXM) provides local, social and mobile marketing solutions to businesses in communities across the U.S. under the Dex One and SuperMedia brands. The company’s widely used consumer services include the DexKnows.com® and Superpages.com® online and mobile search portals and applications and local print directories. For more information, visit www.DexMedia.com.