By Cristal Cody
Tupelo, Miss., May 23 – Equifax Inc. priced an upsized $1 billion of senior notes (Baa1/BBB+) in three tranches on Wednesday, according to a market source and an FWP filing with the Securities and Exchange Commission.
The company placed $300 million of floating-rate notes due Aug. 15, 2021 at par to yield Libor plus 87 basis points.
Equifax sold $300 million of 3.6% long three-year notes at 99.64 to yield 3.716%, or a Treasuries plus 105 bps spread.
The final $400 million tranche of 3.95% five-year notes priced at 98.968 to yield 4.178%. The notes were sold with a Treasuries plus 135 bps spread.
The deal was initially expected to include two tranches of notes and was upsized from $600 million at the launch.
J.P. Morgan Securities LLC, SunTrust Robinson Humphrey Inc., BofA Merrill Lynch, Mizuho Securities USA Inc. and Wells Fargo Securities LLC were the bookrunners.
Proceeds will be used to repay borrowings under the company’s term loan and borrowings under its commercial paper program and for general corporate purposes, which may include repaying debt under its revolver.
Atlanta-based Equifax is an information technology provider that collects and organizes credit, financial, public record, demographic and marketing information on individuals and businesses.
| Issuer: | Equifax Inc.
|
| Amount: | $1 billion
|
| Description: | Senior notes
|
| Bookrunners: | J.P. Morgan Securities LLC, SunTrust Robinson Humphrey Inc., BofA Merrill Lynch, Mizuho Securities USA Inc. and Wells Fargo Securities LLC
|
| Co-managers: | BB&T Capital Markets, CIBC World Markets Corp., Citigroup Global Markets Inc., PNC Capital Markets LLC, U.S. Bancorp Investments, Inc., Fifth Third Securities, Inc., HSBC Securities (USA) Inc., Williams Capital Group, LP
|
| Trade date: | May 23
|
| Settlement date: | May 25
|
| Ratings: | Moody’s: Baa1
|
| S&P: BBB+
|
| Distribution: | SEC registered
|
|
|
| Three-year floaters
|
| Amount: | $300 million
|
| Description: | Senior floating-rate notes
|
| Maturity: | Aug. 15, 2021
|
| Coupon: | Libor plus 87 bps
|
| Price: | Par
|
| Yield: | Libor plus 87 bps
|
| Call features: | Non-callable
|
|
|
| Three-year notes
|
| Amount: | $300 million
|
| Description: | Senior fixed-rate notes
|
| Maturity: | Aug. 15, 2021
|
| Coupon: | 3.6%
|
| Price: | 99.64
|
| Yield: | 3.716%
|
| Spread: | Treasuries plus 105 bps
|
| Call features: | Any time at greater of par and Treasuries plus 20 bps
|
|
|
| Five-year notes
|
| Amount: | $400 million
|
| Description: | Senior fixed-rate notes
|
| Maturity: | June 15, 2023
|
| Coupon: | 3.95%
|
| Price: | 98.968
|
| Yield: | 4.178%
|
| Spread: | Treasuries plus 135 bps
|
| Call features: | Make-whole call before May 15, 2023 at greater of par and Treasuries plus 25 bps; thereafter at par
|
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