RDA Holding Co., the publisher of Reader’s Digest magazine, filed a bankruptcy reorganization plan to shed 80 percent of its debt by converting $231 million of notes into new equity, Bloomberg News reported yesterday. The plan filed on Thursday affirms a deal reached with 70 percent of noteholders before the chapter 11 filing last month. Another $244.9 million in notes is to be treated as a general unsecured claim, according to court papers.
