Match repurchases $414 million 0.875% exchangeables for $1.5 billion

By Wendy Van Sickle

Columbus, Ohio, Oct. 4 – Match Group Holdings II, LLC, a wholly owned subsidiary of Match Group, Inc., repurchased approximately $414 million of its 0.875% exchangeable senior notes due Oct. 1, 2022 for about $1.5 billion, including accrued interest, according to a news release.

The company funded the repurchase using proceeds of its concurrent registered direct offering of 5,534,098 shares of its common stock at a price of $158.83 per share; the net proceeds from its and FinanceCo's concurrent termination of certain note hedges and warrant transactions; and a portion of the net proceeds from its offering of $500 million of 3.625% senior notes due 2031 by indirect subsidiary Match Group Holdings II, LLC.

Following the repurchase about $104 million of exchangeables remain outstanding.

The provider of online dating products is based in Dallas.

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