Roblox to price $1 billion 8.5-year notes on Tuesday; initial talk high 3% area

By Paul A. Harris

Portland, Ore., Oct. 25 – Roblox Corp. expects to price a $1 billion offering of 8.5-year senior notes (expected ratings Ba2/BB) on Tuesday, according to market sources.

The deal, which was set to kick off on a Monday conference call with investors, is in the market with initial guidance in the high 3% area.

Left bookrunner Morgan Stanley & Co. LLC will bill and deliver. Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are the joint bookrunners. Mizuho Securities USA Inc. is the co-manager.

The Rule 144A and Regulation S for life notes come with three years of call protection.

San Mateo, Calif.-based online game platform plans to use the proceeds for general corporate purposes, which may include production and development, capital expenditures, investments, working capital, and potential acquisitions and strategic transactions.

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