American Media Operations, Inc. to Make Private Offering of $150 Million of 10 1/4% Series B Senior Subordinated Notes due 2009.Business Editors BOCA RATON Boca Raton (bō`kə rətōn`), city (1990 pop. 61,492), Palm Beach co., SE Fla., on the Atlantic; inc. 1925. Boca Raton is a popular resort and retirement community that experienced significant industrial development in the 1970s and 80s. , Fla.--(BUSINESS WIRE)--Feb. 5, 2002 American Media Operations, Inc. ("AMI") today announced that it intends to issue approximately $150 million in aggregate principal amount of its 10 1/4% Series B Senior Subordinated Notes due 2009 through a private placement. The notes will be unsecured and subordinated in right of payment to all of AMI's existing and future senior indebtedness. The notes will rank equally with all of AMI's existing and future senior subordinated indebtedness. The notes will be guaranteed on a senior subordinated basis by all of AMI's current subsidiaries. AMI intends to use 50% of the gross proceeds of the offering to make a distribution to its parent entity and to use the remaining net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). to prepay term loans under its credit facility. The notes will be offered to qualified institutional buyers in reliance on Rule 144A Rule 144A A Securities & Exchange Commission rule modifying a two-year holding period requirement on privately placed securities to permit qualified institutional buyers to trade these positions among themselves. under the Securities Act of 1933 and to non-U.S. persons in reliance on Regulation S under the Securities Act of 1933. The notes will not be registered under the Securities Act of 1933. Therefore, the notes may not be offered or sold except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933 and applicable state securities laws. This press release does not and will not constitute an offer to sell or the solicitation of an offer to buy the notes, nor shall there be any sale of the notes in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. This news release is being issued pursuant to and in accordance with rule 135c under the Securities Act of 1933. AMI owns and publishes the National Enquirer En`quir´er n. 1. See Inquirer. Noun 1. enquirer - someone who asks a question asker, inquirer, querier, questioner , Star, Weekly World News, Globe, National Examiner The National Examiner is a supermarket tabloid owned by the American Media Corporation. Like other tabloids, its contents have often come under question, and it has been derided for its sensationalistic writing. , Sun, Country Weekly, Country Music Magazine, MIRA Mira (mī`rə), [Lat.,=marvelous], variable star in the constellation Cetus; Bayer designation Omicron Ceti; 1992 position R.A. 2h19.0m, Dec. −3°05'. ! and Auto World Magazine. AMI also owns Distribution Services, Inc. (DSI (Dynamic Systems Initiative) An umbrella term for a suite of Microsoft products that help manage the Windows environment in large enterprises. DSI was introduced in 2003. ), an in-store supermarket and drugstore magazine marketing company. |
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