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Dun & Bradstreet to repay revolver debt with some proceeds from notes
By Wendy Van Sickle
Columbus, Ohio, June 8 – Dun & Bradstreet Corp. will repay borrowings under its revolving credit facility with some proceeds from a senior note offering, according to a filing with the U.S. Securities and Exchange Commission.
Proceeds from the notes will also be used for general corporate purposes, the company said.
Dun & Bradstreet borrowed under its revolver to fund a portion of closing costs for its acquisition of Credibility Corp., a Malibu, Calf.-based company that provided credit and credibility solutions for businesses in the U.S. and Canada. The borrowings have a weighted average interest rate of 1.28%, and the facility matures July 23, 2019, according to the SEC filing.
J.P. Morgan Securities LLC, Bank of America Merrill Lynch, Barclays and HSBC Securities (USA) Inc. are the joint bookrunning managers in the offering.
Dun & Bradstreet is a business information provider based in Short Hills, N.J.
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