TriNet Group’s $500 Million High Yield Bond Offering

Simpson Thacher represented the initial purchasers, led by J.P. Morgan Securities LLC, in the offering.

TriNet Group, Inc. executed its offering of $500 million aggregate principal amount of 3.5% Senior Notes due 2029.

The notes are guaranteed on a senior unsecured basis by each of TriNet Group’s existing and future U.S. subsidiaries that is a party to the Credit Agreement. TriNet Group intends to use the net proceeds from the notes offering to repay its outstanding term loan and the remaining amount for general corporate purposes.

TriNet is a leading provider of HR expertise, payroll services, employee benefits and employment risk mitigation services for small and medium-size businesses.

The Simpson Thacher team included Art Robinson, Mark Brod and Evan Zuckerman (Capital Markets); Patrick Ryan, Stephanie Rotter and Heather Lee (Banking & Credit); Jennifer Neilsson (ECEB); Jonathan Pall (Collateral); Michael Isby (Environmental); Genevieve Dorment and Alysha Sekhon (IP); Abram Ellis and Christine Tillema (Regulatory); Sophie Staples and Scott Grundei (Tax); and Andrew Pagliughi (Blue Sky).

Involved fees earner: Mark Brod – Simpson Thacher & Bartlett; Abram Ellis – Simpson Thacher & Bartlett; Scott Grundei – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Heather Lee – Simpson Thacher & Bartlett; Jennifer Neilsson – Simpson Thacher & Bartlett; Andrew Pagliughi – Simpson Thacher & Bartlett; Jonathan Pall – Simpson Thacher & Bartlett; Arthur Robinson – Simpson Thacher & Bartlett; Stephanie Rotter – Simpson Thacher & Bartlett; Patrick Ryan – Simpson Thacher & Bartlett; Alysha Sekhon – Simpson Thacher & Bartlett; Sophie Staples – Simpson Thacher & Bartlett; Christine Tillema – Simpson Thacher & Bartlett; Evan Zuckerman – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: J.P. Morgan Securities LLC;

Author: Martina Bellini