| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers D > Headlines for Dun & Bradstreet Corp. > News item |
Dun & Bradstreet sets talk in $1.35 billion two-part notes offering; pricing Friday
By Paul A. Harris
Portland, Ore., Jan. 31 – Dun & Bradstreet Corp. set price talk for its $1.35 billion two-part offering of high-yield notes, market sources said on Thursday.
The deal includes $500 million of 7.5-year senior secured notes (B2/B/BB) talked in the 7¼% area, tighter than initial guidance in the mid 7% area. BofA Merrill Lynch is the lead bookrunner for the secured notes tranche.
The unsecured tranche features $850 million of eight-year senior notes (Caa2/CCC/B-) talked to yield 10% to 10¼%, tighter than initial guidance in the 10¼% to 10½% area. Citigroup Global Markets Inc. is the lead bookrunner for the unsecured notes tranche.
Books close at 5 p.m. ET on Thursday. Books will close at 10 a.m. ET on Friday for accounts on the West Coast of the United States.
The Rule 144A and Regulation S offering is set to price thereafter.
RBC Capital Markets LLC, Credit Suisse Securities (USA) LLC, MUFG and Mizuho Securities USA Inc. are joint bookrunners for both tranches.
Natixis, HSBC Securities, Jefferies LLC, Macquarie Capital, Wells Fargo Securities LLC, Citizens Bank, Houlihan Lokey and SMBC Nikko Securities America Inc. are co-managers for both tranches.
The notes in both tranches become callable after three years at par plus 50% of the respective coupons. They feature three-year 40% equity clawbacks at par plus the respective coupons and 101% poison puts.
The issuing entity is Star Merger Sub, Inc., which is to be merged with and into Dun & Bradstreet.
Proceeds will be used to finance the acquisition of Dun & Bradstreet by an investor group led by CC Capital, Bilcar LLC, Cannae Holdings and Thomas H. Lee Partners.
Dun & Bradstreet is a Short Hills, N.J.-based provider of commercial data and analytics.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.