ZipRecruiter talks $500 million eight-year senior notes to yield 5%-5¼%; pricing Friday

By Paul A. Harris

Portland, Ore., Jan. 7 – ZipRecruiter Inc., which is making its debut in the high-yield market, talked its $500 million offering of eight-year senior notes (B2/BB-/BB-) to yield 5% to 5¼%, according to market sources.

Official guidance comes slightly tight to initial guidance in the low 5% area.

The deal is expected to price on Friday.

J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC, Wells Fargo Securities LLC, Citigroup Global Markets Inc. and KeyBanc Capital Markets Inc. are the joint bookrunners.

The Rule 144A and Regulation S for life notes come with three years of call protection.

The Santa Monica, Calif.-based online employment services provider plans to use the proceeds for general corporate purposes, which may include capital expenditures, investments and working capital.

The Santa Monica, Calif.-based online employment services provider plans to use the proceeds for general corporate purposes, which may include capital expenditures, investments and working capital.

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