Bankrate Prices $300 Mln Private Senior Notes Offering

(RTTNews) - Bankrate, Inc. (RATE) said Friday that it has agreed to sell $300 million of 6.125% senior unsecured notes due 2018 to investors at 98.938% of par value in a private offering.

The offering is expected to close on August 7.

The company plans to use the net proceeds from the offering to redeem all of its existing 113/4% Senior Secured Notes due 2015, $195 million of which are currently outstanding, in accordance with their terms, and to pay fees and expenses in connection with the offering and the redemption, with the balance to be used for general corporate purposes.