New Issue: ANGI Homeservices prices $500 million 3 7/8% eight-year notes at par

By Paul A. Harris

Portland, Ore., Aug. 13 – ANGI Homeservices Inc. priced a $500 million issue of eight-year senior notes (Ba3/BB-) at par to yield 3 7/8% on Thursday, according to a syndicate source.

The yield printed at the tight end of yield talk in the 4% area.

BofA Securities Inc., J.P. Morgan Securities LLC, BNP Paribas Securities Corp., Goldman Sachs & Co. LLC, SG Americas Securities LLC and Citigroup Global Markets Inc. are the joint bookrunners.

The notes were sold via ANGI Group, LLC.

The Denver-based digital marketplace for home services intends to use the proceeds from the notes for general corporate purposes, including potential future acquisitions and a return of capital.

Issuer:	ANGI Group, LLC
Amount:	$500 million
Maturity:	Aug. 15, 2028
Securities:	Senior notes
Bookrunners:	BofA Securities Inc., J.P. Morgan Securities LLC, BNP Paribas Securities Corp., Goldman Sachs & Co. LLC, SG Americas Securities LLC and Citigroup Global Markets Inc.
Senior co-managers:	BMO Capital Markets Corp. and PNC Capital Markets LLC
Co-managers:	Fifth Third Securities Inc., HSBC Securities (USA) Inc., Truist Securities Inc., Credit Suisse Securities (USA) LLC, Cowen, Blaylock Van LLC and MFR Securities Inc.
Coupon:	3 7/8%
Price:	Par
Yield:	3 7/8%
Spread:	332 bps
Call protection:	Three years
Trade date:	Aug. 13
Settlement date:	Aug. 20
Ratings:	Moody's: Ba3
	S&P: BB-
Distribution:	Rule 144A and Regulation S
Price talk:	4% area
Marketing:	Roadshow

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