Ancestry.com begins marketing $300 million eight-year notes offering

By Paul A. Harris

Portland, Ore., Dec. 10 - Ancestry.com plans to host a group lunch at noon ET on Monday in New York to present its proposed $300 million offering of eight-year senior notes (Caa1/CCC+), according to a syndicate source.

The deal is expected to price on Friday.

Morgan Stanley & Co. LLC, Barclays, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and RBC Capital Markets LLC are the joint bookrunners. HSBC is a co-manager.

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

Proceeds, along with equity contributions from Permira IV, Spectrum Equity Investors, the Rollover Investors and the Co-Investors, will be used to complete the acquisition of the company and related transactions and to provide cash on hand to be used for general corporate purposes.

The issuing entity is Global Generations Merger Sub, which is to be merged with and into Ancestry.com, a Provo, Utah-based online family history resource.

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