Bankrate is seeking to raise around $500 million in an initial public offering (IPO), Reuters reports. The U.S. consumer financial services company will use the proceeds from the offering to pay down its debt and for other general corporate purposes.

The lead underwriters on the offering are Goldman Sachs, Bank of America Merrill Lynch, Citigroup and JPMorgan. Bankrate has not yet selected a stock exchange to list its shares and has also not provided further details of the IPO.

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