Equifax plans to repay 364-day revolver borrowings with note proceeds

By Wendy Van Sickle

Columbus, Ohio, May 5 – Equifax Inc. plans to repay borrowings under its 364-day revolving credit facility with some proceeds of an offering of senior notes, according to a 424B5 filing with the Securities and Exchange Commission.

The company also plans to use some of the proceeds repay a portion of the borrowings under its commercial paper program, which was used along with the revolver and an $800 million three-year delayed-draw term loan to finance the company’s acquisition of all the ordinary voting shares of Veda Group Ltd., a provider of credit information and analysis in Australia and New Zealand. The $1.9 billion acquisition closed Feb. 24.

As of March 31, Equifax had $475 million outstanding and $325 million available under the revolver, which matures on Nov. 19, 2016.

Atlanta-based Equifax is an information technology provider that collects and organizes credit, financial, public record, demographic and marketing information on individuals and businesses.

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