Interactive Data Corporation (the "Company") today announced the closing of its offering of $350 million in aggregate principal amount of Senior Notes due 2019 (the "Notes").
The Company estimates that the net proceeds from the offering will be approximately $344.8 million, after deducting the initial purchaser discount. The Company intends to use the net proceeds from the offering, together with the net proceeds of the borrowings under the Company's new $1.9 billion term loan and approximately $90 million in cash, to refinance its $1.3 billion existing term loan, to redeem its existing $700 million 10.25% Senior Notes due 2018, and to fund a distribution to its parent entities, which in turn intend to pay a distribution of approximately $273 million to their equity holders.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes nor shall there be any sale of the Notes in any state in which such offer, solicitation or sale would be unlawful. The Notes to be offered have not been and will not be registered under the Securities Act of 1933, as amended (the "Securities Act") or applicable state securities laws, and may not be offered or sold in the United States absent registration or pursuant to an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.