Roblox Fuels Debt IPO Frenzy With $1 Billion Junk Bond Sale
- Company will be 85th first-time high-yield borrower this year
- More technology companies are opting to fund growth with debt
Photographer: Gabby Jones/Bloomberg
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Video game developer Roblox Corp. is selling $1 billion of junk bonds, becoming the latest debut high-yield borrower in a year full of them.
The company is looking to sell 8.5-year senior unsecured notes to yield in a high-3% range, said a person familiar with the transaction. After talking to investors about the deal Monday morning, it is scheduled to price Tuesday, said the person, who asked not to be identified as the details are private.