Altegrity talks $550 million five-year secured notes at 9% area yield

By Paul A. Harris

Portland, Ore., June 24 – Altegrity, Inc. talked its $550 million offering of five-year senior first-lien secured notes (pro forma ratings B3/B-) to price with a yield in the 9% area, a market source said on Tuesday.

Books close Wednesday at the close of business, and the deal is set to price Thursday.

Goldman Sachs & Co. is the left bookrunner. Credit Suisse Securities (USA) LLC and Macquarie Capital are the joint bookrunners.

The Rule 144A and Regulation S for life notes become callable after two years at par plus 75% of the coupon, with the call premium declining to 37.5% of the coupon after three years and to par after four years.

The Falls Church, Va.-based risk and information services company plans to use the proceeds to prepay its existing senior credit facility in full and to pay the cash portion of the consideration of its existing notes exchange offers.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.