NEW YORK (The Deal) -- Apax Partners-backed Bankrate (RATE) circulated guidance of 6.5% on Thursday for its $300 million offering of five-year (no-call two) senior notes, according to data provider Thomson Reuters. The financial rate information aggregator plans to use proceeds to buy back its $195 million of 11.75% senior notes due in July 2015 with the proceeds from the offering.
Goldman Sachs (GS) and are marketing the deal. Books will close Friday morning with pricing expected later in the day. Bankrate issued the notes in 2010 to help finance the acquisitions of online insurance information provider NetQuote and online credit card marketplace CreditCards.com, according to Moody's.
Apax Partners bought out the company in 2009 for $571 million and took the company back public in 2011. It still owns 53.8% of the company through its company Ben Holding Sarl, according to an SEC filing.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV