Match Group stock and notes offerings to repurchase exchangeable notes

Davis Polk advised Match Group, Inc. in connection with a registered direct offering of shares of its common stock for an aggregate amount of $879 million and concurrent Rule 144A / Regulation S 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, Inc.

The net proceeds of the registered direct offering and concurrent termination of certain note hedges and warrant transactions by Match Group, Inc. and Match Group FinanceCo, Inc., together with a portion of the net proceeds from the notes offering, were used to repurchase approximately $414 million aggregate principal amount of Match Group FinanceCo, Inc.’s 0.875% exchangeable senior notes due 2022 pursuant to privately negotiated agreements with a limited number of holders of such notes.

Match Group, Inc., through its portfolio companies, is a leading provider of digital technologies designed to help people make meaningful connections. Match Group, Inc.’s global portfolio of brands includes Tinder, Match, Meetic, OkCupid, Hinge, Pairs, PlentyOfFish, OurTime, Azar, Hakuna Live, and more, each built to increase its users’ likelihood of connecting with others. Through its trusted brands, Match Group, Inc. provides tailored services to meet the varying preferences of its users. Match Group, Inc.’s services are available in over 40 languages to users all over the world.

The Davis Polk capital markets team included partners Pedro J. Bermeo and Richard D. Truesdell Jr. and associates Claudia Carvajal Lopez, Javier Félix and Livia Maas. The equity derivatives team included Mark M. Mendez. The tax team included partner Mario J. Verdolini and associate Eitan Ulmer. Counsel Sarah E. Kim and associate Leon E. Salkin provided 1940 Act advice. All members of the Davis Polk team are based in the New York office.