debt
confidence high
sentiment neutral
materiality 0.65
Match Group to repurchase 2022 notes via $500M notes offering and common stock direct offering
Match Group, Inc.
- Intends to repurchase 0.875% exchangeable senior notes due 2022 in privately negotiated deals.
- Subsidiary Match Group Holdings II to offer $500M senior notes due 2031; proceeds partly used for repurchase.
- Match Group also launches registered direct offering of common stock; VWAP-based pricing starts Sept 24.
- Concurrent hedge and warrant unwind transactions with financial institutions; may trigger secondary stock sales.
- Net proceeds from direct offering and unwind, plus part of notes proceeds, fund the exchangeable note repurchase.