Payments of principal and interest to owners of the book-entry interests described below are expected to be
made in accordance with the procedures of The Depository Trust Company (DTC) and its participants, including Clearstream Banking, S.A. (Clearstream), and Euroclear Bank SA/NV, as operator of the Euroclear System
(Euroclear).
The trustee will maintain an office in the Borough of Manhattan, the City of New York where we will pay the principal and
premium, if any, on the notes and you may present the notes for registration of transfer and exchange.
Interest
The notes will bear interest from and
including , 2020 to, but excluding, the applicable maturity date at a rate per annum equal to % and
the notes will bear interest from and including , 2020 to,
but excluding, the applicable maturity date at a rate per annum equal to %. Interest on the notes will be payable semi-annually in arrears on
and of each year (each, an interest payment
date), beginning on , 2020, to the persons in whose names the notes are registered at the close of business on
and of each year. Interest on the notes will be paid on
the basis of a 360-day year comprised of twelve 30-day months.
If any
interest payment date or the maturity date of either series of notes falls on a day that is not a business day, the related payment will be made on the next succeeding business day with the same force and effect as if made on the day such payment
was due, and no interest will accrue for the period from and after the interest payment date or maturity date, as the case may be.
Ranking
The notes will be our direct, senior unsecured obligations and will rank equally with all of our existing and future senior unsecured debt.
We are a holding company and conduct our operations primarily through subsidiaries. However, the notes will be obligations exclusively of Equifax Inc. and
will not be guaranteed by any of our subsidiaries. As a result, the notes will be structurally subordinated to all debt and other liabilities of our subsidiaries, which means that creditors of our subsidiaries will be paid from their assets before
holders of the notes would have any claims to those assets. At March 31, 2020, our subsidiaries had outstanding approximately $1,190.9 million of total liabilities, including approximately $128.1 million of debt (excluding, in each
case, intercompany liabilities).
As a holding company, dividends from our subsidiaries and permitted payments to us under our tax sharing arrangements
with our subsidiaries will be our principal sources of cash to pay principal and interest on the notes and meet our other obligations. Our subsidiaries have no obligation to pay any amounts due on the notes.
At March 31, 2020, we had outstanding $3,380.1 million of unsubordinated debt at the parent company level, all of which was unsecured. The indenture
does not limit our ability, or that of any of our existing or future subsidiaries, to incur senior, subordinated or secured indebtedness and other liabilities or issue preferred stock.
Optional Redemption
Prior to (i) with respect to
the
notes, ,
( months prior to the maturity date), and (ii) with respect to the
notes, ,
( months prior to the maturity date) (each a par call date) we
may redeem all or a portion of the notes at our option at any time or from time to time as set forth below. We will mail notice of such redemption to the registered holders of the notes to be redeemed at least
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