June 27, 2007 / 9:36 PM / 11 years ago

UPDATE 1-Affinion Group files for $600 million IPO

(Adds company details, use of proceeds, financials)

WASHINGTON, June 27 (Reuters) - Affinion Group Holdings Inc., a marketing strategy company, filed with regulators on Wednesday to raise up to $600 million in an initial public offering of stock.

The Norwalk, Connecticut-based company did not reveal in the preliminary filing with the U.S. Securities and Exchange Commission how many shares it plans to sell or the expected price of the shares.

It also did not disclose what symbol it will be seeking but said it plans to list its stock on the New York Stock Exchange.

Affinion said in the filing that it uses various types of media, such as direct mail and the Internet, to offer products and services to the end customers of its marketing partners.

The company also said it provides credit monitoring and identity-theft resolution, accidental death and dismemberment insurance, discount travel services, loyalty programs, various checking account and credit card enhancement services.

Affinion intends to use the proceeds from the IPO to redeem preferred stock, to repay debt, to pay its termination fee under its consulting agreement with Apollo Management LP, and for general corporate purposes.

For the three months ended March 31, Affinion reported a net loss of $103.3 million on $320.5 million of net revenues. For the year-earlier period, it reported a net loss of $129.7 million on $245.9 million of net revenues.

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