McClatchy Announces Pricing of $875 Million of Its 11.50% Senior Secured Notes Due 2017
The McClatchy Company (NYSE: MNI) today announced that it has priced its offering of $875 million aggregate principal amount of its 11.50% Senior Secured Notes due 2017 to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States to non-U.S. persons pursuant to Regulation S under the Securities Act. The offering is expected to close on February 11, 2010, subject to satisfaction of customary closing conditions.
The notes will have an issue price to the public of 98.824% and will be senior obligations of McClatchy and will be guaranteed by each of McClatchy’s subsidiaries that guarantee indebtedness under McClatchy’s credit agreement. [Read the full article]
Charter Financial Corporation (the “Company”) (OTC Bulletin Board: CHFN), the holding company for CharterBank, announced that the independent appraisal firm engaged by the Company in connection with its “second-step” stock offering has informed the Company that, based on the Company’s results for the quarter ended December 31, 2009 and other factors, the appraised value of the Company will be increased. Accordingly, the Company will amend its Registration Statement on Form S-1 to reflect the higher appraised value as well as the Company’s operating results for the quarter ended December 31, 2009. The higher appraised value remains subject to change based on market conditions and regulatory review.
The stock offering is part of a transaction pursuant to which CharterBank will reorganize from the two-tier mutual holding company structure to the stock holding company structure. [Read the full article]
Deutsche Telekom AG (XETRA:DTEGN.DE – News) is considering an initial public offering or spinoff of its U.S. wireless service T-Mobile USA, the Wall Street Journal reported.
Citing people familiar with the matter, the Journal said Deutsche Telekom recently had talks with potential underwriters, including Deutsche Bank AG and expects to make a decision in the coming months.
The German telecommunications company wants to placate shareholders unhappy with its performance, according to the online report from the Journal, which said an IPO could help fund T-Mobile USA’s network build-out.
T-Mobile USA is a distant fourth in the U.S. mobile market, behind Verizon Wireless, AT&T Inc (NYSE:T – News) and Sprint Nextel Corp (NYSE:S – News). Verizon Wireless is a joint venture between Verizon Communications Inc (NYSE:VZ – News) and Vodafone Group Plc (LSE:VOD.L – News). [Read the full article]
FriendFinder Networks Inc. (“FFN”) announced today that based on market conditions, it has chosen not to proceed with its planned initial public offering at this time until market conditions improve.
A registration statement relating to the proposed sale of these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy these securities be accepted prior to the time the registration statement becomes effective. This release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
FriendFinder Networks Inc. [Read the full article]