Corporate Risk tenders for $232.8 million of 9˝% notes via asset sale

By Susanna Moon

Chicago, Dec. 21 – Corporate Risk Holdings, LLC said it began a cash tender offer for up to $232,833,000 principal amount of its outstanding 9˝% first-lien senior secured notes due 2019.

Corporate Risk is offering a purchase price of par plus accrued interest to but excluding the payment date.

The offer will remain open until midnight ET on Jan. 20, with settlement following on Jan. 23.

The tender is being made under the notes indenture as a result of the company’s sale of all of its equity interest in Kroll Ontrack, LLC, a segment of the company, and Ontrack’s direct and indirect subsidiaries.

The sale constituted an asset sale under the note terms, and the source of funds is proceeds from the sale, according to a company announcement.

Tendered notes may be withdrawn before the end of the offer.

Evercore Group LLC (888 474-0200) is the dealer manager. D.F. King & Co., Inc. (212 269-5550 or 877 283-0323) is the depositary and information agent.

The offer is not contingent on the tender of a minimum principal amount of the notes.

Corporate Risk is a New York-based company that provides risk solutions and employment screening services.

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