j2 Cloud to pay off parent credit facility debt via new note proceeds

By Tali Rackner

Minneapolis, June 16 – j2 Cloud Services, LLC plans to distribute sufficient proceeds from a new senior note offering to parent company j2 Global, Inc. to pay off all amounts outstanding under j2 Global’s existing credit facility, according to a press release.

The companies announced on Friday a proposed private offering of $550 million senior unsecured notes due 2025.

Proceeds will also be used to redeem all of j2 Cloud’s 8% senior notes due 2020 and for general corporate purposes, which may include acquisitions.

j2 Global provides internet services and is based in Los Angeles.

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