Orange County Business Journal

CoreLogic Ups Size of Debt Offering

Michael Lyster Monday, May 16, 2011

Santa Ana-based data services company CoreLogic Inc. has priced and expanded a debt offering that’s set to wrap up this week.

CoreLogic, which provides consumer, financial and property data for real estate, mortgage and other companies, plans to sell $400 million worth of bonds, up from $350 million planned earlier.

The bonds, due in 2021, carry an interest rate of 7.25%.

The sale is expected to finish by Friday.

CoreLogic plans to use the proceeds to repay a portion of debt on a credit line.

The company has about $525 million in debt, including about $347 million owned on a revolving credit line due in 2016.

CoreLogic debuted as a stand-alone company last year after a split of Santa Ana-based First American Corp.

The move, which also created Santa Ana-based title insurer First American Financial Corp., was designed to free up CoreLogic, which often got overshadowed on Wall Street by First American’s title insurance business.