GoDaddy Inc. Announces Refinancing of Tranche B-2 Term Loans and Revolving Credit Facility
TEMPE, Arizona., October 21, 2022 /PRNewswire/ — GoDaddy Inc. (NYSE: GDDY) today announced that Go Daddy Operating Company, LLC and GD Finance Co, LLC (together with Go Daddy Operating Company, LLC, the “Borrowers”) have allocated (i) a $1,770 million tranche of term loans maturing in 2029 (the “Replacement Term Loans”), the proceeds of which will be used to refinance all outstanding Tranche B-2 Term Loans under the Second Amended Credit Agreement and update, dated February 15, 2017as amended, restated, supplemented or otherwise modified, refinanced or replaced from time to time, by and between the Borrowers, Desert Newco, LLC, the lenders and other parties, and (ii) $1 trillion revolving commitments under a new revolving credit facility maturing in 2027, which will replace the existing revolving commitments of the Borrowers of $600 million (this refinancing, the “Credit Agreement Refinancing”).
The aforementioned transactions are subject to customary closing conditions and are expected to close in the fourth quarter of 2022. However, there can be no assurance that the Borrowers will be able to complete the transactions, on the terms described above, or at all. .
GoDaddy helps millions of entrepreneurs around the world start, grow, and scale their businesses. People come to GoDaddy to name their idea, create a professional website, attract customers, sell their products and services, and accept payments online and in person. GoDaddy’s easy-to-use tools help microbusiness owners manage everything in one place, and its expert guides are available to provide 24/7 support. To learn more about the company, visit www.GoDaddy.com.
This press release may contain forward-looking statements, including, but not limited to, our financing plans and details thereof, including the proposed use of proceeds therefrom, if the expected timing of the refinancing of the credit agreement (including replacement term loans) and the possibility of entering into such a transaction. Forward-looking statements can generally be identified by the use of the words “anticipates”, “expects”, “predicts”, “targets”, “intends”, “plans”, “should”, “could “, “should”, “may”, “will”, “believe”, “estimate”, “potential”, “target”, “commit”, “plan”, “follow” or “continue” and variations or similar expressions, phrases or statements that certain actions, events or results may, might, should or will be taken, received or undertaken or will occur or result, and such similar expressions also identify forward-looking information. These forward-looking statements are based on management’s current expectations and beliefs and are provided for the purpose of providing additional information about those expectations and beliefs and readers are cautioned that such statements may not be appropriate for other purposes. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results and events to differ materially from those described in these forward-looking statements. These risks and uncertainties include, but are not limited to, the risks and uncertainties discussed in the most recent annual and quarterly reports of GoDaddy Inc. (the “Company”) and detailed from time to time in other filings by the Company with the US Securities and Exchange Commission, the risks and uncertainties of which are incorporated herein by reference. They also include, but are not limited to, risks and uncertainties caused by or related to the evolution of the COVID-19 pandemic.
Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. The Company undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect actual results, except as required by law.
Source: GoDaddy Inc.
SOURCE GoDaddy Inc.