By Paul A. Harris
Portland, Ore., Sept. 22 – Match Group priced a $500 million issue of 10-year senior notes (Ba3/BB) at par to yield 3 5/8% in a Wednesday drive-by, according to market sources.
The yield printed 12.5 basis points inside of the 3¾% to 4% yield talk. Initial guidance was in the low 4% area.
J.P. Morgan Securities LLC was the lead.
The issuing entity is Match Group Holding II, LLC, a wholly owned subsidiary of the Dallas-based online dating service company, which plans to use the proceeds to help fund the repurchase of its 0.875% exchangeable senior notes due 2022 and for general corporate purposes.
| Issuer: | Match Group Holding II, LLC
|
| Amount: | $500 million
|
| Maturity: | Oct. 1, 2031
|
| Securities: | Senior notes
|
| Lead bookrunner: | J.P. Morgan Securities LLC
|
| Coupon: | 3 5/8%
|
| Price: | Par
|
| Yield: | 3 5/8%
|
| Spread: | 231 basis points
|
| First call: | Oct. 1, 2026 at 101.813
|
| Trade date: | Sept. 22
|
| Ratings: | Moody's: Ba3
|
| S&P: BB
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 3¾% to 4%
|
| Marketing: | Drive-by
|
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