New Issue: Informatica prices downsized $650 million eight-year notes at par to yield 7 1/8%

By Paul A. Harris

Portland, Ore., June 2 – Informatica Corp. priced a downsized $650 million issue of eight-year senior notes (Caa2/CCC+) at par to yield 7 1/8% on Tuesday, according to an informed source.

The deal was downsized by $100 million, and the proceeds were shifted to the concurrent bank loan.

The yield printed at the tight end of yield talk in the 7¼% area.

Goldman Sachs & Co. was the left bookrunner. BofA Merrill Lynch, Credit Suisse Securities (USA) LLC, Macquarie Capital, Morgan Stanley & Co. LLC, Nomura, RBC Capital Markets and Deutsche Bank Securities Inc. were the joint bookrunners.

Proceeds will be used to help fund the buyout of the Redwood City, Calif.-based provider of enterprise data integration software by Permira funds and Canada Pension Plan Investment Board.

Issuer:	Italics Merger Sub Inc. and, upon consummation of the acquisition, Informatica Corp.
Amount:	$650 million, decreased from $750 million
Maturity:	July 15, 2023
Securities:	Senior notes
Left bookrunner:	Goldman Sachs & Co.
Joint bookrunners:	BofA Merrill Lynch, Macquarie Capital (USA) Inc., Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC, Nomura Securities International Inc., RBC Capital Markets LLC, Deutsche Bank Securities Inc.
Coupon:	7 1/8%
Price:	Par
Yield:	7 1/8%
Spread:	502 bps
First call:	July 15, 2018 at 103.563
Trade date:	June 2
Settlement date:	June 16
Ratings:	Moody's: Caa2
	Standard & Poor's: CCC+
Distribution:	Rule 144A for life and Regulation S
Price talk:	7¼% area
Marketing:	Roadshow

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