Oct. 23, 2009 (PR Newswire) --
MDC ANNOUNCES COMPLETION OF THE OFFERING OF US$225 MILLION, 7-YEAR SENIOR
UNSECURED NOTES AND ENTERS INTO NEW US$75 MILLION, 5-YEAR REVOLVING
CREDIT FACILITY
NEW YORK, Oct. 23 /PRNewswire-FirstCall/ - MDC Partners Inc. ("MDC Partners" or the "Company") today announced the completion of its previously announced offer, in a private placement, of US$225 million aggregate principal amount of senior unsecured notes due 2016 (the "Notes"). MDC Partners used the net proceeds of this offering to repay the outstanding balance under its prior senior secured credit facility, and intends to use the remaining net proceeds to redeem its outstanding 8% C$45 million convertible debentures, and for general corporate purposes.
In addition, MDC Partners today entered into a new 5-year US$75 million revolving credit facility, which replaces its previous revolving credit facility.
The Notes were offered only to qualified institutional buyers under Rule 144A of the Securities Act of 1933, as amended (the "Securities Act"), and to non-U.S. persons in transactions outside the United States under Regulation S of the Securities Act. The Notes have not been registered under the Securities Act, and, unless so registered, may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and other applicable securities laws. MDC Partners has agreed, to the extent the Notes do not become freely transferable without restriction under the Securities Act following the one-year anniversary of their issuance, to file a Registration Statement with the U.S. Securities and Exchange Commission.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This notice is being issued pursuant to and in accordance with Rule 135(c) under the Securities Act.
About MDC Partners Inc.
MDC Partners is a progressive Marketing and Communications Network, championing the most innovative entrepreneurial talent. MDC Partners provides strategic solutions and services to multinational clients in North America, Europe and Latin America.
