Ancestry.com to price $250 million PIK toggle notes on Wednesday

By Paul A. Harris

Portland, Ore., Sept. 10 - Ancestry.com Holdings LLC plans to price a $250 million offering of five-year senior PIK toggle notes on Wednesday, according to a syndicate source.

An investor conference call was scheduled to take place late Tuesday morning.

Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co. and RBC Capital Markets are the joint bookrunners.

The Rule 144A for life notes become callable in two years at 102.

There is an equity clawback for 100% of the notes at 102 for the first two years with IPO proceeds.

The Provo, Utah-based online family history resource plans to use the proceeds to pay cash dividends on or make other payments related to the issuer's equity interests.

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