Infogroup Bids for $365m Loan to Prepare for Sale

Opinion Research-owner Infogroup is proposing to secure a $365m secured credit facility, which it will use to part-fund its $635m takeover by affiliates of CCMP Capital Advisors.

The database giant agreed last month to the sale, which is subject to the approval of its shareholders, regulatory approvals and customary closing conditions. New York-based CCMP will provide $343.7m of equity financing.

The firm will use proceeds of the new loan to repay $166m of existing debt, pay a portion of the consideration due to stockholders in the transaction, and for future working capital needs.

The sale has been opposed by a number of shareholders, who claim that the deal - which equates to $8 in cash for each share of common stock - 'significantly undervalues' the firm.

Web site: www.infogroup.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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