By Paul A. Harris
Portland, Ore., April 17 - Interactive Data Corp. priced an upsized $350 million issue of five-year senior notes (Caa2/B-/) at par to yield 5 7/8% on Thursday, according to a market source.
The yield printed in the middle of the 5¾% to 6% yield talk.
The deal was upsized from $200 million. Along with the upsizing of the bonds, the company downsized its term loan to a range of $1.85 billion to $1.9 billion, from $2.05 billion.
Barclays was the lead left bookrunner for the bond deal. Goldman Sachs & Co., BofA Merrill Lynch, Credit Suisse Securities (USA) LLC, UBS Securities LLC, Deutsche Bank Securities Inc., Morgan Stanley & Co. LLC and Wells Fargo Securities LLC were the joint bookrunners.
The Bedford, Mass.-based provider of financial market data plans to use the proceeds to refinance its term loan B and senior notes and to fund a dividend.
| Issuer: | Interactive Data Corp.
|
| Amount: | $350 million, increased from $200 million
|
| Maturity: | April 15, 2019
|
| Securities: | Senior notes
|
| Left bookrunner: | Barclays
|
| Joint bookrunners: | Goldman Sachs & Co., BofA Merrill Lynch, Credit Suisse Securities (USA) LLC, UBS Securities LLC, Deutsche Bank Securities Inc., Morgan Stanley & Co. LLC, Wells Fargo Securities LLC
|
| Coupon: | 5 7/8%
|
| Price: | Par
|
| Yield: | 5 7/8%
|
| Spread: | 414 bps
|
| Price talk: | 5¾% to 6%
|
| First call: | April 15, 2015 at 102
|
| Trade date: | April 17
|
| Settlement date: | May 2
|
| Distribution: | Rule 144A and Regulation S for life
|
| Marketing: | Roadshow
|
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