CoreLogic Ups Size of Debt OfferingMonday, 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.