TransUnion talks $645 million eight-year notes to yield 11½% area

By Paul A. Harris

St. Louis, June 9 - TransUnion Corp. talked its $645 million offering of eight-year senior unsecured notes (B3/B-) with a yield in the 11½% area, an informed source said.

The deal is expected to price on Thursday morning.

In addition to price talk, TransUnion modified the bond covenants as well as the language of the bond indenture.

Earlier in the week the Chicago-based provider of credit information attached registration rights to the notes, which initially came to market as a Rule 144A for life offering.

J.P. Morgan Securities Inc., Bank of America Merrill Lynch, Deutsche Bank Securities Inc. and Credit Suisse are the joint bookrunners.

The notes come with four years of call protection.

Proceeds will be used to finance a portion of the purchase of TransUnion Corp. equity in connection with the acquisition of the company by Madison Dearborn Partners and to help repay debt.

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