Match Group launches $800 million term B at Libor plus 375-400 bps

By Sara Rosenberg

New York, Oct. 27 – Match Group Inc. launched on Tuesday its incremental $800 million seven-year senior secured term loan B (Ba2/BB+) with price talk of Libor plus 375 basis points to 400 bps with a 1% Libor floor and an original issue discount of 99, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

J.P. Morgan Securities LLC is the lead bank on the deal.

Proceeds will be used to help fund a distribution to IAC/InterActiveCorp in connection with its spinoff from IAC and for general corporate purposes.

Other funds for the transaction will come from $500 million of notes and an initial public offering of stock. Match Group is a Dallas-based provider of dating products.

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