Equifax to repay term loan, revolver borrowings via new note offerings

By Tali Rackner

Minneapolis, May 23 – Equifax Inc. plans to repay borrowings under its term loan using the net proceeds from two new senior note offerings, according to a 424B2 filing with the Securities and Exchange Commission.

Proceeds will also be used to repay borrowings under the company’s commercial paper program and for general corporate purposes, which may include repayment of borrowings outstanding under its revolver.

As of March 31, there was $400 million outstanding under the term loan, which matures on Nov. 21, 2018, the filing said. There was also $100 million outstanding and $298.8 million available under the revolver, which matures on Nov. 21, 2020 but may be extended for two one-year periods.

Borrowings under both facilities bear interest at Libor plus 87.5 basis points to 150 bps.

The weighted average interest rates for borrowings under the term loan and revolver were 3% and 2.86%, respectively, as of March 31.

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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