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JERSEY CITY - Verisk Analytics, Inc. (NASDAQ:VRSK), a $37 billion data analytics provider with annual revenue of approximately $3 billion and impressive gross margins of 69%, has priced an offering of $1.5 billion in senior notes to help finance its planned acquisition of AccuLynx, according to a press release statement issued Thursday.
The data analytics provider announced two tranches of notes: $750 million of 4.500% Senior Notes due 2030 and $750 million of 5.125% Senior Notes due 2036. The offering is expected to close on August 21, 2025.
Verisk plans to use the proceeds, along with borrowings from a senior unsecured three-year delayed draw term loan facility and cash on hand, to finance the approximately $2.35 billion purchase price for AccuLynx.
The sale of the notes is not contingent on the completion of the acquisition, which is expected to occur after the notes offering closes.
Goldman Sachs & Co. LLC, BofA Securities, Inc. and Wells Fargo Securities, LLC are serving as joint book-running managers for the offering.
The notes are being offered through a shelf registration statement filed with the Securities and Exchange Commission on March 24, 2023.
Verisk Analytics provides data analytics and technology services primarily to the global insurance industry, helping clients improve operating efficiency, underwriting and claims outcomes, and combat fraud.
In other recent news, Verisk Analytics reported second-quarter earnings that exceeded analyst expectations, with adjusted earnings per share coming in at $1.88, surpassing the anticipated $1.77. The company also reported revenue of $773 million, which not only beat the consensus estimate of $768.74 million but also marked a 7.8% increase from the previous year’s $717 million for the same quarter. Following these strong results, Verisk raised its full-year revenue outlook, signaling confidence in its future performance. Despite the positive earnings report, BMO Capital lowered its price target for Verisk Analytics from $317 to $290, while maintaining a Market Perform rating on the stock. This adjustment was made after considering the company’s margin strength and stable organic constant currency revenue growth, with notable acceleration in Underwriting revenue. However, the growth in Claims revenue showed signs of slowing. These developments highlight the mixed reactions from analysts despite the company’s robust financial performance.
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