Ancestry.com talks $250 million tap of Arches Buyer 4¼% notes due 2028 at 98.51; pricing Tuesday

By Paul A. Harris

Portland, Ore., Dec. 13 – Ancestry.com talked a $250 million add-on to the Arches Buyer Inc. 4¼% first-lien notes due June 1, 2028 (B1/B) at 98.51, according to a syndicate source.

Books close at 10:30 a.m. ET on Tuesday, and the Rule 144A and Regulation S deal is set to price thereafter.

BofA Securities Inc., Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC, Barclays, J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC and SMBC Nikko Securities America Inc. are the joint bookrunners. Blackstone is the co-manager.

The notes become callable on Dec. 1, 2023 at 102.125.

The Lehi, Utah-based provider of digital family history services and consumer genomics plans to use the proceeds plus cash on hand to fund one or more distributions of up to approximately $300 million to the owners of the economic interests in the indirect parent company.

The original $700 million issue price in November 2020.

The add-on notes are to become immediately fungible with the original notes.

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