Credit reporting agency TransUnion hopes to raise $325 million through an initial public offering, the company said in Securities and Exchange Commission filings Tuesday. The Chicago-based company, which is owned by the Pritzker family and private equity firm Madison Dearborn Partners, plans to use proceeds to reduce debt. For the first quarter, TransUnion reported a loss of $25.5 million, or 85 cents per share, on revenue of $245.9 million, down substantially from earnings of $20.8 million, or 33 cents per share, a year earlier. “We have a substantial amount of indebtedness,” the company said in the filing, listing total debt of $1.6 billion as of March 31, with $645 million of senior notes, $950 million due under a senior secured credit facility, and $11.2 million of other debt. The company did not specify the number of shares it plans to offer in the IPO. The other two major credit reporting agencies — Equifax Inc. (EFX) and Experian PLC — already trade publicly, with shares of Dublin-based Experian trading on the London Stock Exchange. Write to Kerri Panchuk.
TransUnion aims to raise $325 million in IPO
Most Popular Articles
Latest Articles
Spring housing market gets more inventory
We’ve now had back-to-back weeks of healthy housing inventory growth, making spring 2024 much healthier than spring 2023.
-
The best real estate podcasts for agents and brokers in 2024
-
Home sellers saw their profits shrink in the first quarter: Attom
-
If reelected, Trump could seek greater control over Federal Reserve
-
Acra CEO Keith Lind on staying the course amid choppy waters in non-QM
-
HUD walks back some proposed changes to HECM for Purchase program