GoTo Group closes exchange offer; early result numbers hold

Chicago, March 7 – GoTo Group, Inc. closed its exchange offer for its 5˝% senior secured notes due 2027 (Cusip: 541056AA5, U54106AA4) after the deadline passed at 5 p.m. ET on March 5, according to a press release.

The tendered amount of $410,475,000 aggregate principal amount, or 99.54%, of the $412,363,000 of outstanding notes was unchanged from the early deadline at 5 p.m. ET on Feb. 16.

As a reminder, the company was offering to exchange up to the full $412,363,000 of the existing notes for new 5˝% first-lien first-out senior secured notes due 2028 and new 5˝% first-lien second-out senior secured notes due 2028.

The early exchange consideration for each $1,000 of existing notes tendered by the early tender date was $770.

The exchange notes to be received consisted of 42% FLFO notes and 58% FLSO notes.

Accrued interest was also paid.

Early settlement was Feb. 20.

Combined with a private exchange offer that closed on Feb. 5, 99.8% of holders of existing notes tendered their notes for new notes.

Requests for the exchange offer memorandum and other documents relating to the exchange offer may be directed to D.F. King & Co., Inc. (800 967-5079 or 212 269-5550; goto@dfking.com), the exchange agent and information agent.

Loan exchanges

The exchange offer for the notes was concurrent with a loan transaction.

All of the company’s existing term loan lenders participated in the debt exchange and all of the revolving lenders agreed to extend the maturity on a $250 million revolving credit facility for two years.

GoTo is a Boston-based IT management, support and business communications company.

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