Yellow Pages Ltd T.Y

Alternate Symbol(s): YLWDF

Communication Services

Yellow Pages Limited is a Canadian digital media and marketing company. The Company offers targeted tools to local businesses, national brands and consumers, allowing them to interact and transact within the digital economy. It offers small and medium-sized enterprises (SMEs) across Canada full-serve access to a comprehensive suite of digital and traditional marketing solutions, such as online and mobile priority placement on its digital media properties, content syndication, search engine solutions, Website fulfillment, social media campaign management, digital display advertising, video production, e-commerce solutions, as well as print advertising. Its media properties, primarily desktop, mobile and print, continue to serve as effective marketplaces for Canadian local merchants, brands and consumers. The Company holds local online properties, including YP.ca, Canada411 and 411.ca. It also holds the YP, Canada411 and 411 mobile applications and Yellow Pages print directories.

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Yellow Pages Ltd

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Comment by YoungInvestor89on Feb 13, 2020 1:50pm

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Post# 30687026

RE:RE:RE:Exchangeable debenture redemption value

Golden Tree owns about 40% of the debentures. Considering the balance sheet, this is basically risk-free money (8%+). However, the penalty for early repayment is basically the same as the expected interest over the next year and change.

Keep in mind that a lot of the debenture holders have likely held for years, and the company back then was a dead man walking the green mile in the eyes of many. They are going to squeeze every nickel out of Y for the risk.

I haven't done the math on what complete conversion looks like dilution wise. Perhaps someone else would chime in on what a post-conversion capital structure would look like.

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