Web.com plans new debt financing for buyout by Siris Capital

By Sara Rosenberg

New York, June 21 ¨C Web.com Group Inc. has received a commitment for debt financing to help fund its acquisition by Siris Capital Group LLC and refinance existing debt, according to an 8-K filed with the Securities and Exchange Commission on Thursday.

Morgan Stanley Senior Funding Inc., RBC Capital Markets and Macquarie Capital provided the debt commitment.

Other funds for the transaction will come from equity and cash on hand.

Under the agreement, Siris will purchase all of the outstanding common stock of Web.com for $25.00 per share in cash. The transaction is valued at about $2 billion.

Closing is expected in the fourth quarter, subject to approval by Web.com¡¯s shareholders, regulatory approvals and customary conditions.

There is a ¡°go shop¡± period until Aug. 5.

Web.com is a Jacksonville, Fla.-based provider of a full range of internet services and online marketing solutions for small and medium©\sized businesses.

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