Informatica expected to launch $750 million eight-year notes Tuesday

By Paul A. Harris

Portland, Ore., May 22 – Informatica Corp. is expected to kick off a $750 million offering of eight-year notes on Tuesday, according to a high-yield bond investor.

Goldman Sachs & Co. will lead the deal, the source said.

The investor expects the bonds to come with credit ratings in the triple-C range, and added that the deal could be expected to come together with a yield around 7½% to 7¾%.

The notes will have three years of call protection.

Proceeds will be used to help fund the buyout of the Redwood City, Calif.-based enterprise software company by Permira funds and Canada Pension Plan Investment Board for $48.75 in cash per share. The transaction is valued at $5.3 billion.

Financing also includes a $2,025,000,000 senior secured credit facility which is being managed by BofA Merrill Lynch, Credit Suisse Securities (USA) LLC, Goldman Sachs, Macquarie, Morgan Stanley & Co., Nomura, RBC Capital Markets and Deutsche Bank Securities Inc.

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