Dun & Bradstreet (DNB) announces launch of 65.75 mln share IPO

Expected to price between $19-$21

• The lead underwriters on the IPO are Goldman Sachs, BofA Securities, J.P. Morgan, and Barclays.
• DNB has applied to list shares on the NYSE.
• A subsidiary of Cannae (CNNE), a subsidiary of Black Knight (BKI), and a subsidiary of CC Capital Partners plan to invest $200.0 mln, $100.0 mln, and $100.0 mln, respectively, in a concurrent private placement of DNB's common stock that is contingent upon the consummation of the offering at a price per share equal to 98.5% of the initial public offering price.
• DNB intends to use the proceeds that it receives from the offering and the concurrent private placement to redeem all of its outstanding Series A Preferred Stock, repay a portion of its 10.250% Senior Unsecured Notes outstanding due 2027 and for working capital and other general corporate purposes.