By Paul A. Harris
Portland, Ore., Oct. 23 - TransUnion Holding Co., Inc. priced a $400 million issue of senior PIK toggle notes due June 15, 2018 (Caa1/B-/) on Tuesday, according to a market source.
The notes printed with an 8 1/8% cash coupon and an 8 7/8% PIK coupon at a reoffer price of 99.5, with a cash yield of 8.232%.
The cash coupon came in the middle of the 8% to 8¼% coupon talk. The reoffer price came at the rich end of the 99 to 99.5 price talk.
Goldman Sachs & Co. was the left bookrunner for the quick-to-market deal. Deutsche Bank Securities Inc. was the joint bookrunner.
The Chicago-based provider of information management and risk management services plans to use the proceeds to make a one-time dividend or other distribution as a return of capital to its shareholders.
| Issuer: | TransUnion Holding Co., Inc.
|
| Face amount: | $400 million
|
| Proceeds: | $398 million
|
| Maturity: | June 15, 2018
|
| Securities: | Senior PIK toggle notes
|
| Left bookrunner: | Goldman Sachs & Co.
|
| Joint bookrunner: | Deutsche Bank Securities Inc.
|
| Cash coupon: | 8 1/8%
|
| PIK coupon: | 8 7/8%
|
| Price: | 99.5
|
| Cash yield: | 8.232%
|
| First call: | June 15, 2014 at 104.063
|
| Trade date: | Oct. 23
|
| Settlement date: | Nov. 1
|
| Ratings: | Moody's: Caa1
|
| Standard & Poor's: B-
|
| Distribution: | Rule 144A with registration rights
|
| Price talk: | 8% to 8¼% at 99 to 99.5
|
| Marketing: | Quick to market
|
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