Match Group cuts spread on $425 million term B to Libor plus 175 bps

By Sara Rosenberg

New York, Feb. 7 – Match Group reduced pricing on its $425 million seven-year term loan B (Ba1/BBB-) to Libor plus 175 basis points from talk in the range of Libor plus 200 bps to 225 bps, according to a market source.

The term loan still has a 0% Libor floor and an original issue discount of 99.75.

BofA Securities, Inc., Citigroup Global Markets Inc., Goldman Sachs Bank USA, Barclays, BMO Capital Markets, BNP Paribas Securities Corp., Capital One, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Fifth Third, J.P. Morgan Securities LLC, PNC Capital Markets and Societe Generale are the leads on the deal.

Proceeds will be used to extend an existing term loan from Nov. 16, 2022 and reprice the debt from Libor plus 250 bps.

The company is also seeking to increase its revolving credit facility to $750 million from $500 million and extend the maturity to five years.

Match is a Dallas-based provider of dating products.

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