Interactive Data announces plans to redeem 10¼% notes due 2018

By Angela McDaniels

Tacoma, Wash., April 7 - Interactive Data Corp. plans to redeem its 10¼% senior notes due 2018, according to an 8-K filing with the Securities and Exchange Commission.

The company said it is seeking to raise about $2.25 billion of long-term debt and will use the proceeds to redeem the notes, refinance its existing term loans and fund a distribution to its parent entities, which in turn intend to pay a roughly $273 million dividend to their equity holders.

Interactive Data is a Bedford, Mass.-based provider of financial market data.

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