By Paul A. Harris
Portland, Ore., June 30 – Altegrity, Inc. priced an upsized $825 million issue of five-year first-lien senior secured notes (B3/B-) at par to yield 9˝% late Monday, according to a market source.
The deal, which was launched earlier on Monday at a range of $800 million to $850 million, was upsized from $550 million.
The price and yield printed on top of revised talk; earlier talk had the deal coming in the 9% area.
Call protection was increased to three years from two years.
Goldman Sachs & Co. is the left bookrunner. Credit Suisse Securities (USA) LLC and Macquarie Capital were the joint bookrunners.
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 for its ongoing note exchange offers.
| Issuer: | Altegrity Inc.
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| Amount: | $825 million, increased from $550 million
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| Maturity: | July 1, 2019
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| Securities: | First lien senior secured notes
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| Left bookrunner: | Goldman Sachs & Co.
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| Joint bookrunners: | Credit Suisse Securities (USA) LLC, Macquarie Capital
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| Coupon: | 9˝%
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| Price: | Par
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| Yield: | 9˝%
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| Call protection: | Three years, increased from two years
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| Trade date: | June 30
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| Ratings: | Moody’s: B3
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| Standard & Poor’s: B-
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| Distribution: | Rule 144A for life
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| Price talk: | 9˝% at par, increased from 9% area
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| Marketing: | Roadshow
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