By Paul A. Harris
Portland, Ore., Nov. 17 – Match Group priced a $450 million issue of 5% 10-year senior notes (Ba3/BB-) at 99.027 to yield 5 1/8% in a quick-to-market Friday trade, according to a market source.
The yield printed at the tight end of yield talk in the 5¼% area.
The deal was playing to $1 billion of orders at the tight end of the 5¼% to 5½% initial guidance, a trader said early Friday.
J.P. Morgan Securities LLC was the lead.
The Dallas-based courtship services provider plans to use the proceeds, together with cash on hand, to redeem its 6¾% senior notes due 2022.
| Issuer: | Match Group
|
| Amount: | $450 million
|
| Maturity: | Dec. 15, 2027
|
| Securities: | Senior notes
|
| Lead: | J.P. Morgan Securities LLC
|
| Coupon: | 5%
|
| Price: | 99.027
|
| Yield: | 5 1/8%
|
| Call protection: | Five years
|
| Trade date: | Nov. 17
|
| Settlement date: | Dec. 4
|
| Ratings: | Moody's: Ba3
|
| S&P: BB-
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 5¼% area
|
| Marketing: Quick-to-market
|
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