Ancestry.com is being purchased by Permira Advisers LLP and has issued $300 million of bonds to help fund the buyout even although a court ruled that officials can’t close the deal yet.
According to data compiled by Bloomberg the company issued 11 percent 8-year notes at par (an amount or level considered to be average) to yield 964 (one one-hundredth of a percent, used in measuring yield differences among bonds) more than similar maturity Treasuries. Investors were told the bonds may yield 10.5 to 10.75 percent.
Permira is a London, England, private equity firm who agreed to buy Ancestry at about $1.6 billion back in October. Although Ancestry passed the 2 million user milestone, there was concern that the cancellation of their television show “Who Do You Think You are? would narrow subscriber growth.
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