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Match tightens guidance on $450 million 10-year notes to 5¼% area; pricing Friday
By Paul A. Harris
Portland, Ore., Nov. 17 – Match Group tightened guidance on its $450 million offering of 10-year senior notes (Ba3/BB-) to the 5¼% area, according to a bond trader.
The deal, which is coming as a Friday drive-by, commands $1 billion of orders, the source said, adding that the demand drove down pricing from the 5¼% to 5½% initial guidance.
J.P. Morgan Securities LLC is the lead.
The notes come with five years of call protection.
The Dallas-based courtship services provider plans to use the proceeds, together with cash on hand, to redeem its 6¾% senior notes due 2022.
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