IHS Markit to price $250 million tap of 4¾% bullet notes due 2025 in Monday drive-by

By Paul A. Harris

Portland, Ore., July 10 – IHS Markit Ltd. plans to price a $250 million add-on to its 4¾% senior bullet notes due Feb. 15, 2025 (expected ratings Ba1/BB+/BBB) on Monday afternoon trailing a late-morning conference call with investors, according to a syndicate source.

Wells Fargo Securities LLC is the left bookrunner for the Rule 144A and Regulation S for life deal. RBC Capital Markets LLC, BofA Merrill Lynch, HSBC and J.P. Morgan Securities LLC are the joint bookrunners.

BBVA, NatWest, TD Securities and U.S. Bancorp Investments Inc. are the senior co-managers. Citizens, Goldman Sachs & Co., Morgan Stanley & Co. LLC, PNC Capital Markets, SMBC Nikko, SunTrust Robinson Humphrey Inc. and BNP Paribas Securities Corp. are the co-managers.

The notes become callable after Nov. 15, 2024 but are otherwise non-callable.

The London-based financial information and services company plans to use the proceeds for working capital and general corporate purposes, which may include debt repayment or share repurchases; pending those uses, the proceeds will be used to pay down the company's revolving credit facility.

The original $500 million issue priced at par on Feb. 6, 2017.

The add-on notes will become immediately fungible with original notes.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.