Match Group Announces Senior Notes Offering
Match Group (NASDAQ: MTCH) announced its intention to offer $500 million in senior notes due 2031. The offering aims to fund the repurchase of 0.875% exchangeable senior notes due 2022 and support general corporate purposes. The private offering will be available to qualified institutional buyers under Rule 144A and certain non-U.S. persons under Regulation S. The notes will remain unregistered under the Securities Act, emphasizing the exclusive nature of this offer.
- Intended offering of $500 million in senior notes to enhance liquidity.
- Use of proceeds to repurchase existing exchangeable senior notes, potentially improving capital structure.
- The offering of senior notes may increase debt levels, impacting future financial flexibility.
DALLAS, Sept. 22, 2021 /PRNewswire/ -- Match Group (NASDAQ: MTCH) announced today that its indirect wholly owned subsidiary, Match Group Holdings II, LLC (the "Issuer"), intends to commence an offering of
The Issuer intends to distribute a portion of the net proceeds of the Notes Offering to Match Group for its use, together with the net proceeds of Match Group's concurrent registered direct offering and the net proceeds of Match Group's concurrent termination of certain note hedges and warrant transactions, to repurchase
The Notes Offering will be made only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to certain non-U.S. persons in accordance with Regulation S under the Securities Act. The Notes will not be registered under the Securities Act and may not be offered or sold without registration unless an exemption from such registration is available.
This press release is issued pursuant to Rule 135c of the Securities Act, and does not constitute an offer to sell the Notes, nor a solicitation for an offer to purchase the Notes.
About Match Group
Match Group (NASDAQ: MTCH), through its portfolio companies, is a leading provider of digital technologies designed to help people make meaningful connections. Our global portfolio of brands includes Tinder®, Match®, Meetic®, OkCupid®, Hinge®, Pairs™, PlentyOfFish®, OurTime®, Azar®, Hakuna Live™, and more, each built to increase our users' likelihood of connecting with others. Through our trusted brands, we provide tailored services to meet the varying preferences of our users. Our services are available in over 40 languages to our users all over the world.
Forward-Looking Statements
This press release contains forward-looking statements regarding the future performance of Match Group, within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to a variety of risks and uncertainties that could cause actual results to differ materially from current expectations. These risks and uncertainties include, but are not limited to, Match Group's ability to consummate the transactions described herein. Additional cautionary statements regarding other risk factors that could have an effect on the future performance of Match Group are contained in its filings with the SEC, including its reports on Forms 10-K, 10-Q and 8-K. Match Group undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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SOURCE Match Group
FAQ
What is the purpose of Match Group's $500 million senior notes offering?
Who can participate in Match Group's senior notes offering?
What are the terms of the senior notes due 2031?
Why is Match Group repurchasing exchangeable senior notes?
Will the senior notes be registered under the Securities Act?
