TriNet to sell $500 million eight-year notes on Tuesday; initial talk mid-to-high 3% area

By Paul A. Harris

Portland, Ore., Feb. 22 – TriNet Group, Inc. plans to price a $500 million offering of eight-year senior notes on Tuesday, according to market sources.

Initial guidance has the notes coming to yield in the mid-to-high 3% area, a trader said.

J.P. Morgan Securities LLC is leading the Rule 144A and Regulation S deal.

The notes come with three years of call protection.

The Dublin, Calif.-based provider of corporate payroll and benefits outsource services plans to use the proceeds to repay bank debt and for general corporate purposes.

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