Valassis Prices Offering of $540 Million of Senior Notes.

Publication: PR Newswire

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COPYRIGHT 2007 PR Newswire Association LLC

LIVONIA, Mich., Feb. 28 /PRNewswire-FirstCall/ -- Valassis Communications, Inc. announced today that it has priced a private placement of $540 million aggregate principal amount of 8-1/4% senior notes due 2015. The sale of the notes is expected to close on March 2, 2007, subject to customary closing conditions.

Valassis intends to use the net proceeds from the offering, together with initial borrowings under an anticipated new senior secured credit facility and other available cash, to finance its previously announced acquisition of ADVO, Inc., to refinance all of ADVO's outstanding indebtedness and to pay related...

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