Moody's gives B2 to I-Logic notes

Moody's Investors Service said it gave B2 ratings to I-Logic Technologies Bidco Ltd.'s (ION Analytics) planned dollar-denominated senior secured notes due 2030 and proposed euro-denominated senior secured notes due 2030. The combined issuance amount is expected to be equivalent to $850 million.

The proceeds will be used to repay a $275 million bridge loan used to fund the acquisition of Backstop Solutions Group, LLC, repay $450 million of term loans, fund a $100 million dividend distribution to buyback minority shareholders, and fund $25 million for general corporate purposes and to pay transaction fees and expenses. Acuris Finance US, Inc. and Acuris Finance Sarl will be the co-borrowers and ION will be a guarantor.

All other ratings, including ION Analytics' B2 corporate family rating and stable outlook, are unchanged.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.