HCM - TriNet announces pricing of private offering of $400M of senior notes due 2031
2023-08-02 17:57:42 ET
- TriNet Group Inc ( NYSE: TNET ) on Wednesday announced it has priced $400M in aggregate principal amount of its 7.125% senior notes due 2031 in a private offering.
- TriNet also expects to enter into an amendment to its revolving credit facility that would close on or around the closing date of the offering.
- The amendment would extend the maturity date of the revolving credit facility to five years and increase the revolving credit limit to $700 million.
- The offering is expected to close on August 16.
- TriNet intends to use the net proceeds to fund an equity tender offer and a share repurchase that it announced on July 31 and the remaining amount for general corporate purposes.
- TNET +0.89% after hours to $104.61.
- Source: Press Release
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TriNet announces pricing of private offering of $400M of senior notes due 2031