TransUnion, which is owned by private equity firm Madison Dearborn Partners and Chicago’s Pritzker family, plans to sell up to $325 million in stock in an initial public offering.

In a filing with the Securities and Exchange Commission on Tuesday, the Chicago-based company said it would use the proceeds to reduce “a substantial amount of indebtedness” and for general corporate purposes.

As of March 31, TransUnion had total debt of $1.6 billion according to its registration statement with the SEC. TransUnion had revenues of $956.5 million in 2010, and made $36.6 million. In the first quarter, it posted revenues of $245.9 million and lost $25.5 million.

Source: Chicago Tribune