Nielsen plans to price $250 million three-year mandatory convertibles ahead of the open Tuesday

By Rebecca Melvin

New York, Jan. 24 - Nielsen Holdings BV planned to price a $250 million offering of three-year mandatory convertible subordinated bonds ahead of the market open on Tuesday, according to a market source.

The Nielsen mandatory was talked to yield 6.25% to 6.75% with an initial conversion premium of 15% to 20%.

As previously reported, the mandatories, with a $50 par, are being priced concurrently with an initial public offering of $1.725 billion of common stock. The shares will be listed on the New York Stock Exchange under the ticker symbol NLSN. The estimated price per share for the common stock is $21.00 per share, according to the filing.

The mandatories have a $37.5 million greenshoe.

Underwriters involved in the deal are J.P. Morgan Securities LLC, as left lead bookrunner, Morgan Stanley & Co. Inc., Credit Suisse Securities, Deutsche Bank Securities Inc., Goldman Sachs & Co., Citigroup Global Markets Inc., with Bank of America Merrill Lynch, William Blair, Guggenheim Securities, RBS Securities Inc., Wells Fargo, Blaylock Robert Van LLC, HSBC, Loop Capital Markets, Mizuho Securities USA, Ramirez & Co., and the Williams Capital Group LP.

Proceeds are earmarked to pay down debt.

Nielsen is a global information and measurement company incorporated in the Netherlands with its principal executive offices located in New York City.

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