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ZipRecruiter to Sell Its First Junk Bond With $500 Million Deal

  • Some proceeds will likely be for acquisitions, Moody’s says
  • Job-search company went public in May through a direct listing
Updated on

ZipRecruiter Inc., the online job search and recruiting company, is looking to sell $500 million of junk bonds, its first time tapping the high-yield market, as employers confront spot shortages of workers and high turnover.

The company probably will use at least some proceeds from the offering to finance acquisitions, according to Moody’s Investors Service, which is rating the notes B2, or five steps below investment grade. ZipRecruiter said the money it raises may be used for capital expenditures, investments and working capital.