Monday , August 21 2017

GoDaddy Inc. (NYSE:GDDY) Files an 8-K Other Events

Godaddy

GoDaddy Inc on Feb 7th has finalized terms for the re-pricing and addition of its present credit facility to deliver for a $1,072.5 million seven-year term loan (the “Series B Period Loan”), a 2nd contingent $1,425.0 million bugs (the “Acquisition Term Loan”), which is envisioned to deliver a slice of the financing for the Company’s formerly announced offered acquisition of Host Europe Holdings Limited (the “HEG Acquisition”), and a $150.0 million five-year rotating credit facility (the “Revolving Facility”), which will upsurge to $200.0 million upon the concluding of the HEG Procurement. The Series B Term Loan and the Acquisition Term Loan will be fungible. The complete Series B Term Loan is predictable to be supplied at an issue worth of 99.75% of the main amount of the Series B Term Loan and to bear attention at a rate per year of LIBOR plus 2.50%. In association with the Series B Term Loan, the Business means to repay all amounts outstanding under its current term loan, which allows interest at a rate per annum of LIBOR together with 3.25%.

The Acquisition Term Loan is predictable to be delivered at an issue price of 99.75% of the main amount of the Acquisition Term Loan in association with the concluding of the HEG Acquisition and to tolerate interest at a rate per annum of LIBOR plus 2.50%. If the final of the HEG Acquisition has not happened by April 3, 2017, the Acquisition Term Loan will initiate to ensue interest at a rate per annum of 1.25%, and if the concluding of the HEG acquisition has not happened within 60 days following the closing below the credit facility, the Acquisition Term Loan will start to ensue interest at a rate per year of LIBOR plus 1.25%.

The Revolving Facility will accept interest at a rate per annum of LIBOR plus an extent ranging from 2.75% to 3.25%, with the spread dogged based on the Company’s overall leverage ratio.

The closing below the credit facility is predictable to happen on or about February 15, 2017, subject to usual closing conditions.

About GoDaddy Inc. (NYSE:GDDY)

GoDaddy Inc. is a technology provider to small companies, Web design professionals and individuals. The Company carries cloud-based products and modified customer care. The Company activates a domain market, where its clients can find the digital real estate that equals their idea. It offers Website building, Web hosting and security tools to aid customers to construct and protect online existence. It offers applications that allow connecting to clients and managing companies. The Company delivers search, discovery and reference tools, as well as a choice of domain name for projects. It provides efficiency tools, such as domain-specific e-mail, invoicing, online storage, bookkeeping and payment solutions to track ventures, as well as marketing goods. Its hosting products are shared Website hosting, Website hosting on virtual dedicated servers and dedicated servers, security, managed hosting and cloud services and cloud applications.

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