Match Group (NASDAQ: MTCH) announced today that it has repurchased approximately $414 million aggregate principal amount of 0.875% exchangeable senior notes due 2022 (the “2022 Exchangeable Notes“) for approximately $1.5 billion, including accrued and unpaid interest on the 2022 Exchangeable Notes repurchased, pursuant to privately negotiated agreements with a limited number of current holders of such 2022 Exchangeable Notes (the “Exchangeable Notes Repurchase“).
The 2022 Exchangeable Notes were issued by Match Group FinanceCo, Inc. (“FinanceCo“), a wholly owned subsidiary of Match Group.
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Match Group funded the Exchangeable Notes Repurchase using (i) the net proceeds from its concurrent registered direct offering of 5,534,098 shares of its common stock at a price of $158.83 per share, (ii) the net proceeds from its and FinanceCo’s concurrent termination of certain note hedges and warrant transactions and (iii) a portion of the net proceeds from the private unregistered offering of $500 million aggregate principal amount of 3.625% senior notes due 2031 by Match Group Holdings II, LLC, an indirect wholly owned subsidiary of Match Group.
Following the Exchangeable Notes Repurchase approximately $104 million aggregate principal amount of 2022 Exchangeable Notes remain outstanding.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor will there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
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