Match Group driving by with $500 million 10-year senior notes; initial talk low 4% area

By Paul A. Harris

Portland, Ore., Sept. 22 – Match Group plans to price a $500 million offering of 10-year senior notes (expected ratings Ba3/BB) in a Wednesday drive-by, according to market sources.

Initial guidance has the notes coming to yield in the low 4% area.

J.P. Morgan Securities LLC is leading the Rule 144A and Regulation S offering.

The notes come with five years of call protection.

The issuing entity will be Match Group Holding II, LLC, a wholly owned subsidiary of the Dallas-based online dating service, which plans to use the proceeds plus proceeds from other deals to repurchase its 7/8% exchangeable senior notes due 2022 and for general corporate purposes.

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