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ION Analytics to pay down credit facility borrowings with notes
By Sara Rosenberg
New York, Jan. 25 – ION Analytics plans to partially prepay amounts drawn under its existing credit facility using a portion of the proceeds from an $850 million equivalent U.S. and euro senior secured notes offering, according to a market source.
Remaining proceeds from the notes will be used to refinance debt used for the Backstop acquisition, to fund a dividend for the repurchase of shares from certain minority shareholders in one or more of its parent companies, for general corporate purposes and to pay transaction costs.
ION Analytics is a London-based provider of capital markets data, content and intelligence.
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