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Yellow Pages raises $200-million Add to ...

Yellow Pages Income Fund raised $200-million on Monday by offering investors both income and potential capital gains with a convertible debenture financing.

Yellow Pages sold seven-year bonds that pay 6.25 per cent interest, debt that can be flipped into equity in the company at $8 a unit. The terms of the convertible debenture stay the same once the media company converts from a trust to a common stock structure, a move that is dictated by changes in federal tax laws.

RBC Dominion Securities, TD Securities and Scotia Capital led the offering.

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