{"id":15830,"date":"2011-07-28T17:21:33","date_gmt":"2011-07-28T21:21:33","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=15830"},"modified":"2011-07-28T17:21:33","modified_gmt":"2011-07-28T21:21:33","slug":"ylo-closes-trader-corporation-sale","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=15830","title":{"rendered":"YLO Closes Trader Corporation Sale"},"content":{"rendered":"<p>Yellow Media <a href=\"http:\/\/www.ypg.com\/en\/newsroom\/523-yellow-media-inc-announces-completion-of-the-sale-of-trader-corporation\">has announced<\/a>:<\/p>\n<blockquote><p>the successful completion of the sale of Trader Corporation\u2019s automotive segment to Funds advised by Apax Partners. The transaction, previously announced on March 25, 2011, was completed for a net purchase consideration of $708 million, net of expenses and estimated working capital, fees and other adjustments.<\/p>\n<p>This divestiture will enable the Company to strengthen its capital structure and focus all of its efforts on YPG\u2019s digital transformation and organic execution in its core business. The proceeds from the sale will be largely used to reduce indebtedness and for general corporate purposes.<\/p><\/blockquote>\n<p>I&#8217;ve been checking every day since the Trader Corp. debt issue closed on <a href=\"http:\/\/www.prefblog.com\/?p=15775\">July 22<\/a>! As noted on <a href=\"http:\/\/www.prefblog.com\/?p=15814\">July 27<\/a>, their 11Q2 financials will be released on August 4.<\/p>\n<p>This is not the kind of thing I usually report on PrefBlog &#8230; but the YLO issues have been &#8230; somewhat volatile in recent months. YLO has four issues outstanding, the retractibles YLO.PR.A and YLO.PR.B; and the FixedResets YLO.PR.C and YLO.PR.D. All are tracked by HIMIPref&trade;; all are relegated to the Scraps index on credit concerns.<\/p>\n<p>The June edition of <a href=\"http:\/\/www.prefletter.com\">PrefLetter<\/a> contained a short appendix on YLO; I won&#8217;t decide until I look at the financials, but I suspect that the August edition will have another.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Yellow Media has announced: the successful completion of the sale of Trader Corporation\u2019s automotive segment to Funds advised by Apax Partners. The transaction, previously announced on March 25, 2011, was completed for a net purchase &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-15830","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/15830","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15830"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/15830\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15830"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15830"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15830"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}