TriNet Group (TNET) Announces Proposed Private Offering of $500 Million of Senior Notes due 2029

February 22, 2021 7:39 AM EST

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TriNet Group, Inc. ("TriNet" or the "Company") (NYSE: TNET), a leading provider of comprehensive human resources solutions for small and medium-size businesses, announced today that it intends to offer, subject to market and other conditions, $500 million in aggregate principal amount of its senior notes due 2029 (the "notes") in a private offering (the "offering") that is exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"). The notes will be guaranteed on a senior unsecured basis by the subsidiaries of the Company that will be the borrower and the guarantors of the Company's new $500 million revolving credit facility that is expected to close concurrently with the closing of the offering. The Company intends to use the net proceeds of the offering to repay its outstanding term loan and the remaining amount for general corporate purposes.

The notes have not been and will not be registered under the Securities Act, or the securities laws of any other place. Unless they are registered, the notes may be offered only in transactions that are exempt from registration under the Securities Act and applicable state securities laws. The notes are being offered and sold only to persons reasonably believed to be qualified institutional buyers under Rule 144A and to non-U.S. persons outside the United States in reliance on Regulation S under the Securities Act.

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