Freshfields Advises TriNet on Tender Offer, Share Repurchase and Related Financing Transactions

Freshfields advised TriNet Group, Inc. on its fixed price tender offer to repurchase for cash 5,981,308 shares of its common stock (representing approximately $640 million in value of shares) at a price of $107.00 per share. Freshfields also advised TriNet in connection with its repurchase for cash of 3,364,486 shares (representing approximately $360 million in value of shares) from affiliates of the Company’s largest stockholder at the same price.

The tender offer and share repurchase were funded using a combination of cash on hand, the net proceeds of the Company’s private offering of $400 million in aggregate principal amount of its 7.125% senior notes due 2031 and borrowings under the Company’s revolving credit agreement, which was upsized in connection with such transactions from $500 million to $700 million. Freshfields advised TriNet on the notes offering and the credit agreement amendment.

TriNet’s common stock is listed on the New York Stock Exchange under the trading symbol “TNET”.