DUBLIN, Calif., June 22, 2018 /PRNewswire/ -- TriNet
Group, Inc. (NYSE: TNET), a leading provider of
a comprehensive human resources solution for small to midsize
businesses, today announced that on June 21,
2018, it entered into a Credit Agreement providing for
$675 million of new senior secured
credit facilities used to refinance TriNet's outstanding
indebtedness in a leverage-neutral transaction. The new facilities
include $425 million principal amount
of new tranche A term loans maturing in 2023 and a new $250 million revolving credit facility maturing
in 2023. TriNet's current corporate credit rating is Ba3 by Moody's
Investor Service and BB- by S&P Global Ratings.
Pricing on the new term A loan and the revolver was set at LIBOR
plus 1.625%, or the prime lending rate plus an applicable margin
equal to 0.625%, which is subject to change in the future based on
TriNet's leverage ratio.
Additional details regarding the terms of the refinancing are
provided in TriNet's Current Report on Form 8-K dated June 22, 2018, filed with the Securities and
Exchange Commission.
About TriNet
TriNet is a leading provider of a comprehensive human resources
solutions for small to midsize businesses, or SMBs. We enhance
business productivity by enabling our clients to outsource their
human resources, or HR, function to us, allowing them to focus on
operating and growing their core businesses. Our HR solutions
include services such as payroll processing, human capital
consulting, employment law compliance and employee benefits,
including health insurance, retirement plans and workers'
compensation insurance. Our services are delivered by our expert
team of HR professionals and enabled by our technology platform,
with online and mobile tools, which allows our clients and their
employees to efficiently conduct their HR transactions anytime and
anywhere. For more information, please visit
http://www.trinet.com.
Contacts:
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Investors:
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Media:
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Alex Bauer
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Fatima
Afzal
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TriNet
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TriNet
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Investorrelations@TriNet.com
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Fatima.Afzal@TriNet.com
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(510)
875-7201
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(510)
875-7265
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TriNet, Ambitions Realized and the TriNet logo are registered
trademarks of TriNet
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SOURCE TriNet Group, Inc.