(Bloomberg) -- 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, said a person familiar with the transaction. An investor call is scheduled for 11 a.m. in New York, said the person, who asked not to be identified as the details are private.

Roblox is the 85th company this year to sell high-yield bonds for the first time, according to data compiled by Bloomberg. Newly public companies riding large equity valuations and issuers who were previously deemed too risky by bond investors have taken advantage of strong demand for junk bonds to sell debt for the first time.

Roblox, which has a market capitalization in excess of $45 billion, went public in March through a direct listing on the New York Stock Exchange. 

Morgan Stanley, Goldman Sachs Group Inc., and JPMorgan Chase & Co. are leading the sale, the person said. The deal is set to price Tuesday. 

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