Dun & Bradstreet loan, bonds launch expected in next few weeks

By Sara Rosenberg

New York, Jan. 10 – Dun & Bradstreet Corp. is anticipated to hold a bank meeting for its credit facilities and launch its bond offering sometime in the late January to early February timeframe, according to a market source.

As committed, the $3.53 billion of senior secured credit facilities are expected to consist of a $400 million revolver and a $3.13 billion term loan.

The senior unsecured notes offering is expected to be sized at $850 million and is backed by a commitment for an $850 million senior unsecured bridge loan.

The company also has a commitment for a $200 million senior secured 364-day bridge loan.

Bank of America Merrill Lynch, Citigroup Global Markets Inc. and RBC Capital Markets are the leads on the debt, with Bank of America the left lead on the credit facilities and Citigroup the left lead on the bonds.

Proceeds will be used to help fund the buyout of the company by an investor group led by CC Capital, Cannae Holdings and Thomas H. Lee Partners LP for $145 in cash per share in a transaction valued at $6.9 billion, including the assumption of $1.5 billion of Dun & Bradstreet’s net debt.

Other funds for the transaction will come from up to $1,943,000,000 of equity and up to $1.05 billion of preferred equity.

Closing is expected this quarter, subject to regulatory clearances and other customary conditions.

Dun & Bradstreet is a Short Hills, N.J.-based provider of commercial data and analytics.

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