Bankrate to redeem 11¾% senior secured notes due 2015 on Aug. 24

By Toni Weeks

San Luis Obispo, Calif., July 29 - Bankrate, Inc. issued on July 25 a call to fully redeem its 11¾% senior secured notes due 2015, according to an 8-K filed Monday with the Securities and Exchange Commission.

The notes will be redeemed at 105.875 plus accrued interest to the redemption date, which is Aug. 24.

The redemption is contingent on the satisfaction of a finance condition. If this is not met, the company may either withdraw the redemption offer or delay it by up to 30 days.

North Palm Beach, Fla.-based Bankrate is a publisher and distributor of personal finance content on the internet.

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