Web.com talks offer price on $660 million term loan B at 99¾ to par

By Sara Rosenberg

New York, Feb. 13 - Web.com Group Inc. launched on Wednesday its $660 million term loan B due October 2017 with an offer price of 99¾ to par, according to a market source.

As previously reported, price talk on the loan is Libor plus 325 basis points to 350 bps with a 1% Libor floor, and there is 101 soft call protection for six months.

Commitments are due on Feb. 21, the source said.

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.

Proceeds will be used to refinance a roughly $628 million first-lien term loan that is priced at Libor plus 425 bps with a 1.25% Libor floor and to repay in full a roughly $32 million second-lien term loan.

In addition, the company expects to increase its revolver by $10 million and amend it to reflect reduced pricing. Current revolver pricing is Libor plus 375 bps with no Libor floor.

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

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