#onlinedating | Blackstone Seeks Payout From Bumble Loan Amid Online Dating Boom | #bumble | #tinder | #pof


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Photographer: Jaap Arriens/NurPhoto via Getty Images

Blackstone Group Inc. is looking to reap the benefits from a surge in online dating in a global pandemic and a rebound in demand for risky leveraged loans as investors seek higher-yielding assets.

The private equity firm, which bought a majority stake in the owner of dating app Bumble last year when it was known as MagicLab, is now seeking a payout from a $200 million loan. The deal, along with cash on balance sheet, will fund a $285 million dividend to Blackstone, as well as other co-investors and shareholders, according to a note from Moody’s Investors Service.

Citigroup Inc., which is leading the deal, is sounding out investors at a spread of 3.25 to 3.50 percentage points over the London interbank offered rate, said people with knowledge of the matter who asked not to be identified discussing a private transaction. The debt is being offered with a 0.50% floor and a discounted price of 99 cents to 99.5 cents on the dollar, and follows a $575 million issue in January that was boosted in size twice with borrowing costs slashed.

A representative for Blackstone declined to comment. A representative for Bumble didn’t immediately respond to a request for comment.

Dividend Boom



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