DUBLIN, Calif., Feb. 22, 2021 /PRNewswire/ -- 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.
This press release is for informational purposes only and
does not constitute an offer to sell, or a solicitation of an offer
to buy, nor shall there be any sale of the notes in any state or
jurisdiction in which such offer, solicitation or sale is unlawful.
Any offers of the notes will be made only by means of a
private offering memorandum. This notice is being issued
pursuant to and in accordance with Rule 135(c) under the Securities
Act.
Forward-Looking Statements
This press release contains forward-looking statements that are
based on TriNet's current expectations. Such statements
include plans regarding the offering and the receipt and use of the
net proceeds from the offering. Such forward-looking
statements are subject to certain risks, uncertainties and
assumptions, including investor demand, market conditions,
customary closing conditions and other factors. There can be
no assurance that TriNet will complete the offering, enter into a
new revolving credit facility or repay the outstanding term loan.
Should one or more of these risks or uncertainties
materialize, or should underlying assumptions prove incorrect,
actual results may vary materially from those expected. More
information about potential risk factors that could affect TriNet
and its results is included in TriNet's filings with the Securities
and Exchange Commission, including its Annual Report on Form 10-K
for the year ended December 31, 2020.
TriNet does not assume any obligation to update the forward-looking
information contained in this press release.
CONTACT:
Investors:
Alex Bauer
TriNet
Investorrelations@TriNet.com
(510)
875-7201
|
Media:
Renee
Brotherton
TriNet
Renee.Brotherton@TriNet.com
(408)
646-5103
|
View original content to download
multimedia:http://www.prnewswire.com/news-releases/trinet-announces-proposed-private-offering-of-500-million-of-senior-notes-due-2029-301232459.html
SOURCE TriNet Group, Inc.