Directory firms Dex One, SuperMedia file for bankruptcy

(Reuters) - Dex One Corp (DEXO.N) and SuperMedia Inc (SPMD.O) have both filed for bankruptcy protection after the directories publishers failed to win the full support of senior secured lenders for a change to a credit agreement needed to complete their planned merger. Dex One, formerly known as R.H. Donnelley Corp, and SuperMedia agreed last year to combine their businesses, with Dex One shareholders expected to own about 60 percent and SuperMedia shareholders the rest of the combined company. Unusual for bankruptcies, stockholders of both companies will not be legally impacted by the Chapter 11 filings, and the shares of both companies rose sharply on Monday. The bankruptcy filings are the second ones in four years for each of the companies. As part of the proposed deal, Dex One and SuperMedia agreed with a committee of senior lenders to amend their credit agreements to extend the maturity dates of the companies' senior secured debt up to 26 months until December 31, 2016. Read the rest at http://www.reuters.com/article/2013/03/18/us-dexone-bankruptcy-idUSBRE92H05Q20130318