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R.H. Donnelley Secures Forbearance Agreements From Its Bondholders and Bank Lenders; Elects to Exercise Grace Periods for Pending Interest Payments PR Newswire CARY, N.C., May 14 - Company enters into forbearance agreements relating to interest payment default on one series of senior unsecured notes and exercises grace periods for pending interest payments on four series of subsidiary notes CARY, N.C., May 14 /PRNewswire-FirstCall/ -- R.H. Donnelley, one of the nation's leading consumer and business-to-business local commercial search companies, today said it has entered into forbearance agreements with certain of its bondholders and bank lenders with respect to the consequences of the expiration of the 30-day grace period relating to a $55 million interest payment on one series of the company's senior unsecured notes. The relevant interest payment was due April 15, 2009 and the 30-day grace period for such payment expires on May 15, 2009. The bondholders and bank lenders party to the forbearance agreements agreed not to pursue their rights and remedies under the company's and its subsidiaries' applicable debt agreements relating to such interest payment through May 28, 2009. The company also said that it would exercise a 30-day grace period on an aggregate of approximately $78 million in interest payments due on May 15, 2009 on four series of notes issued by its subsidiaries, the 11.75 percent Senior Notes due 2015 of R.H. Donnelley Inc., the 8 percent Notes due 2013 and 9 percent Discount Notes due 2013 of Dex Media, Inc. and the 5 7/8 percent Senior Notes due 2011 of Dex Media West LLC, while it continues to have discussions with ad hoc steering committees representing certain of its bondholders and banks lenders. The company said the missed interest payments on the subsidiary notes do not constitute events of default under the bond indentures or any of its or its subsidiaries' other debt agreements unless R.H. Donnelley Inc., Dex Media, Inc. or Dex Media West LLC fails to make the payment within 30 days of the due date, absent an extension.