VeriSign talks $600 million 10-year split-rated notes to yield in the 4¾% area

By Paul A. Harris

Portland, Ore., April 11 - VeriSign, Inc. talked its $600 million offering of split-rated 10-year senior notes (Baa3/BB) with a yield in the 4¾% area, a market source said.

The order books close at 2:30 p.m. ET Thursday, and the deal is set to price thereafter.

J.P. Morgan Securities LLC and BofA Merrill Lynch are the joint bookrunners.

U.S. Bancorp and BB&T Securities are the co-managers.

The Rule 144A and Regulation S with registration rights notes come with five years of call protection.

The internet infrastructure services provider plans to use the proceeds for general corporate purposes, as well as to repay its revolving credit facility and repurchase shares. The company is based in Reston, Va.

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