Rupert Murdoch's New America Holdings Inc. increased its high-yield bond offering to $400 million from $300 million Friday after cheapening the deal slightly to raise more money, high-yield and other sources said.

"There was considerable interest in the deal. The market told us that you needed an interest rate of 12% to do that kind of a deal," a company spokeswoman said, "You pay a little premium for size, but [it's] not substantial."

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