Web.com withdraws $997.64 million term loan B repricing from market

By Sara Rosenberg

New York, Jan. 31 – Web.com Group Inc. postponed the repricing of its $997,640,297 covenant-lite term loan B due Oct. 11, 2025, according to a market source.

Talk on the repricing had been Libor plus 350 basis points with a 0% Libor floor and a par issue price.

The repriced loan was going to get 101 soft call protection for six months.

Morgan Stanley Senior Funding Inc. was the lead bank on the deal.

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