Web.com to launch first-lien repricing, revolver upsizing on Friday

By Sara Rosenberg

New York, Oct. 23 - Web.com Group Inc. scheduled a conference call for 11 a.m. ET on Friday to launch a repricing of its first-lien term loan and an upsizing to its revolver to $60 million from $50 million, according to a news release.

The first-lien term loan was obtained in October 2011 at a size of $600 million and with pricing of Libor plus 550 basis points with a 1.5% Libor floor.

J.P. Morgan Securities LLC, Deutsche Bank Securities Inc., SunTrust Robinson Humphrey Inc., Goldman Sachs Lending Partners, Citigroup Global Markets Inc. and Wells Fargo Securities LLC are the joint lead arrangers and joint bookrunners on the deal.

The company also has a roughly $120 million second-lien term loan, but is not seeking a repricing of that debt at this time, the release said.

Web.com is a Jacksonville, Fla.-based provider of internet services and online marketing services for small businesses.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.