IHS draws $850 million from new revolver, to use new notes for paydown

By Marisa Wong

Madison, Wis., Oct. 21 – IHS Inc. borrowed about $850 million under its new $1.3 billion senior revolving credit facility on Oct. 17, according to an 8-K filing with the Securities and Exchange Commission.

Borrowings, along with cash on hand, were used to repay all amounts outstanding under the company’s previous credit facility.

The company intends to use proceeds from an offering of senior notes due 2022 to repay a portion of the $850 million borrowed under the new revolver as well as amounts outstanding under its existing $250 million term loan.

Following completion of the notes offering, the company expects to have roughly $1.8 billion of debt outstanding.

IHS is an Englewood, Colo.-based provider of information, insight and analytics.

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