IHS Plans $500 Mln Senior Notes Offering

(RTTNews) - IHS Inc. (IHS) said Tuesday that ti plans to offer $500 million in aggregate principal amount of senior notes due 2022 in a private placement transaction.

The company said it plans to use the net proceeds from the offering of the notes to repay all amounts outstanding under its existing $250 million unsecured term loan and to repay a portion of the $850 million of outstanding borrowings under its new $1.3 billion senior unsecured revolving facility.

On October 17, IHS borrowed about $850 million under the 2014 revolving facility and, together with cash on hand, repaid all amounts outstanding and cancelled all commitments under its 2011 credit facility. Following consummation of the offering of the notes and use of proceeds therefrom, IHS expects to have about $1.8 billion of indebtedness outstanding.