ZipRecruiter to repurchase $295M in senior notes at a $65M discount

ZipRecruiter (NYSE: ZIP) announced it has entered into privately negotiated agreements to repurchase approximately $295 million in aggregate principal amount of its 5% senior unsecured notes due 2030 for approximately $230 million, representing a $65 million discount to par value. The repurchase price excludes accrued and unpaid interest.

The transactions will be funded from the company's existing cash on hand. Following the repurchases, approximately $255 million in principal will remain outstanding from the original $550 million issuance. The remaining notes will continue to accrue interest at 5% per annum and mature in January 2030.

The repurchases are closing on a rolling basis, with final closings expected on or before June 30, 2026, subject to customary closing conditions.

"The debt repurchases announced today allow ZipRecruiter to retire over half of our outstanding debt at a significant discount to par value, meaningfully reducing our debt burden while preserving a strong cash balance," said Ian Siegel, CEO of ZipRecruiter.

Moelis & Company LLC served as financial advisor and Latham & Watkins LLP served as legal advisor to ZipRecruiter in connection with the transactions.

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