JERSEY CITY, N.J., March 03, 2023 (GLOBE NEWSWIRE) -- Verisk Analytics, Inc. (Nasdaq: VRSK) (“Verisk” or the “Company”), a leading global data analytics provider, today announced the pricing of an offering of $500 million of 5.750% Senior Notes due 2033 (the “Notes”). The closing of the offering is expected to occur on March 7, 2023, subject to satisfaction of customary closing conditions.
The Company intends to use the net proceeds of this offering for general corporate purposes, which the Company expects will include stock repurchases pursuant to the Company’s stock repurchase authorization that became effective on the closing of the sale of the Company’s Energy business and the repayment of remaining amounts outstanding under the Company’s syndicated revolving credit facility.
BofA Securities, Inc. and HSBC Securities (USA) Inc. are acting as joint book-running managers for the offering.
The offering of these securities is made only by means of a prospectus. Copies may be obtained by contacting BofA Securities, Inc., One Bryant Park, New York, NY 10036 Attn: Prospectus Department, e-mail dg.prospectus_requests@baml.com; or HSBC Securities (USA) Inc., 452 Fifth Avenue, New York, NY 10018 at 1-866-811-8049. The Notes are being offered pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission on March 26, 2020.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the Notes, nor will there be any sale of the Notes in any jurisdiction in which such offer, solicitation, or sale would be unlawful. Any offer, solicitation or sale of the Notes will be made only by means of the prospectus supplement and the accompanying prospectus.
About Verisk
Verisk (Nasdaq: VRSK) is a leading strategic data analytics and technology partner to the global insurance industry. It empowers clients to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud and make informed decisions about global risks, including climate change, extreme events, ESG and political issues. Through advanced data analytics, software, scientific research and deep industry knowledge, Verisk helps build global resilience for individuals, communities and businesses. With teams across more than 20 countries, Verisk consistently earns certification by Great Place to Work and fosters an inclusive culture where all team members feel they belong.
Forward-Looking Statements
This press release contains forward-looking statements. These statements relate to future events or to future financial performance and involve known and unknown risks, uncertainties, and other factors that may cause the Company’s actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “target,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” or “continue” or the negative of these terms or other comparable terminology. You should not place undue reliance on forward-looking statements, because they involve known and unknown risks, uncertainties, and other factors that are, in some cases, beyond the Company’s control and that could materially affect actual results, levels of activity, performance, or achievements.
Other factors that could materially affect actual results, levels of activity, performance, or achievements can be found in the Company’s annual reports on Form 10-K and current reports on Form 8-K filed with the Securities and Exchange Commission. If any of these risks or uncertainties materialize or if the Company’s underlying assumptions prove to be incorrect, actual results may vary significantly from what the Company projected. Any forward-looking statement in this release reflects the Company’s current views with respect to future events and is subject to these and other risks, uncertainties, and assumptions relating to the Company’s operations, results of operations, growth strategy, and liquidity. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, whether as a result of new information, future events, or otherwise.
Investor Relations Stacey Brodbar Head of Investor Relations Verisk 201-469-4327 IR@verisk.com Media Alberto Canal Verisk Public Relations 201-469-2618 Alberto.Canal@verisk.com
