Match Group to price $500 million eight-year notes on Tuesday; initial talk 5% area

By Paul A. Harris

Portland, Ore., May 12 – Match Group, Inc. plans to price a $500 million issue of eight-year senior notes (Ba3) in a Tuesday drive-by following a mid-morning conference call with investors, according to market sources.

Initial price talk has the deal coming to yield in the 5% area, a bond trader said.

Goldman Sachs & Co. LLC is the left bookrunner. J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Barclays, BofA Securities Inc., BMO Capital Markets Corp., BNP Paribas Securities Corp., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and SG CIB are the joint bookrunners.

Capital One Securities Inc., Fifth Third Securities Inc. and PNC Capital Markets LLC are the co-managers.

The Rule 144A and Regulation S for life notes become callable after three years at par plus 50% of the coupon.

The Dallas-based provider of dating products plans to use the proceeds to redeem its notes maturing in 2024 and for general corporate purposes.

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