Cannae Holdings, Inc. Announces Dun & Bradstreet’s Successful Repricing Of Term Loan With Lower Rate
January 31, 2020 at 02:40 am IST
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Cannae Holdings Inc. announced that The Dun & Bradstreet Corporation, a Cannae portfolio company, has accepted an amendment to its existing credit agreement that reduces the interest rate applicable to its $2,530 million term loan B facility ("Term Loan B"). The interest rate applicable to the Term Loan B as a result of the amendment is LIBOR plus 400 basis points, a reduction of 100 basis points from the previous interest rate of LIBOR plus 500 basis points. Excluding the costs of the transaction and future principal payments, the lower interest rate will save Dun & Bradstreet approximately $25 million in interest costs annually through the maturity of the Term Loan B. The maturity date for the Term Loan B remains February 8, 2026 and no changes were made to the financial covenants or scheduled amortization. The deal was priced on January 29, 2020 and will close and fund on February 10, 2020.
Dun & Bradstreet Holdings, Inc. is a global provider of business decisioning data and analytics. The Company clients embed its end-to-end solutions into their daily workflows to inform commercial credit decisions, confirm suppliers and improve salesforce productivity and gain visibility into key markets. Its solutions support its clientsâ mission critical business operations by providing and curated data and analytics to help drive informed decisions and improved outcomes. The Company operates through two segments: North America and International. Its finance and risk solutions are used in the critical decisioning processes of finance, risk, compliance and procurement departments worldwide. Its sales and marketing solutions combine firmographic, personal contact, intent and non-traditional data to assist clients in optimizing their sales and marketing strategy by cleansing customer relationship management (CRM) data and narrowing their focus and efforts on the probability prospects.
DUN & BRADSTREET HOLDINGS, INC. 
