Dun & Bradstreet replaces facility with $800 million revolver due 2016

By Angela McDaniels

Tacoma, Wash., Oct. 27 - Dun & Bradstreet Corp. entered into a new $800 million revolving credit facility due Oct. 25, 2016 on Tuesday, according to an 8-K filing with the Securities and Exchange Commission.

The interest rate is Libor plus 79.5 basis points to 130 bps, depending on the company's ratings. The facility fee is 8 bps to 20 bps.

There is a $200 million sublimit for borrowings made in currencies other than the dollar, a $50 million sublimit for swingline loans and a $25 million sublimit for letters of credit.

JPMorgan Chase Bank, NA is the administrative agent. Bank of Tokyo-Mitsubishi UFJ, Ltd. and Barclays Capital are the syndication agents. HSBC Bank USA, NA and RBS Citizens, NA are the documentation agents. J.P. Morgan Securities LLC is the arranger and bookrunner.

The revolver replaces the company's $650 million five-year revolver, which was terminated.

The new revolver requires the maintenance of interest coverage and total debt to EBITDA ratios similar to those required under the prior facility.

At closing, the company borrowed $189 million under the new revolver and used the proceeds, together with cash on hand, to pay down the amounts then outstanding under the prior revolver.

Dun & Bradstreet is a business information provider based in Short Hills, N.J.

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