Dun & Bradstreet IPO Plans to Raise Up to $1.38 Billion

Business-data provider Dun & Bradstreet set the terms of its plan to go public, aiming to raise as much as $1.38 billion.
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The business information provider Dun & Bradstreet on Wednesday set the terms of its planned initial public offering, indicating it would sell $1.25 billion to $1.38 billion of shares.

The Short Hills, N.J., company said in a statement that it intended to sell 65.8 million  common shares at $19 to $21 apiece.

The underwriters also will have a 30-day option to buy up to 9.9 million more shares.

Dun & Bradstreet has applied to list the shares on the New York Stock Exchange with the ticker symbol DNB.

The company in mid-May had confidentially submitted to the Securities and Exchange Commission a plan to go public.

The deal comes just 16 months after the company was taken private by an investor group led by CC Capital, Cannae Holdings, Bilcar, Black Knight and funds affiliated with Thomas H. Lee Partners. 

Goldman Sachs, Bank of America Securities, J.P. Morgan and Barclays are lead bookrunning managers and representatives of the underwriters for the offering.

Citigroup, Credit Suisse, HSBC, Jefferies, RBC Capital Markets, Wells Fargo Securities, Deutsche Bank Securities, BMO Capital Markets, SunTrust Robinson Humphrey and TD Securities are also bookrunning managers.

A subsidiary of Cannae, a subsidiary of Black Knight and a subsidiary of CC Capital Partners plan to invest $200 million, $100 million, and $100 million, respectively, in a concurrent private placement of Dun & Bradstreet’s common stock. 

That placement is contingent on the offering price equaling 98.5% of the IPO price.

Dun & Bradstreet intends to use the funds to redeem preferred stock, repay debt and for general purposes.