Verisk Analytics to conduct tap of 4.125% senior notes due 2029

By Devika Patel

Knoxville, Tenn., Sept. 6 – Verisk Analytics, Inc. (Baa2/BBB/BBB+) intends to price an add-on offering to its 4.125% senior notes due March 15, 2029, according to a 424B5 filed with the Securities and Exchange Commission.

The company sold $400 million of the bonds in a sale that priced on Feb. 27, 2019 and settled on March 6, 2019. The notes were sold at 99.463 to yield 4.191% at a spread of Treasuries plus 150 basis points.

The notes feature a make-whole call at Treasuries plus 25 bps until Dec. 15, 2028 and a par call after that date.

J.P. Morgan Securities LLC and Wells Fargo Securities LLC are the bookrunners.

Proceeds will be used to acquire Genscape, Inc. for approximately $364 million in cash.

The data analytics provider is based in Jersey City, N.J.

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