TEMPE,
Ariz., Jan. 22, 2024 /PRNewswire/ -- GoDaddy Inc.
(NYSE: GDDY) today announced Go Daddy Operating Company, LLC and GD
Finance Co, LLC (each, a subsidiary of GoDaddy Inc. and together,
the "Borrowers") closed the previously announced credit agreement
refinancing. In connection with the closing, the Borrowers entered
into a Tenth Amendment (the "Tenth Amendment") to the Second
Amended and Restated Credit Agreement, dated as of February 15, 2017 (as amended, restated,
supplemented or otherwise modified, refinanced or replaced from
time to time, the "Credit Agreement"), by and among the Borrowers,
Desert Newco, LLC, Royal Bank of Canada as the Administrative Agent, the
Collateral Agent, the Swingline Lender and a Letter of Credit
Issuer, and the other parties party thereto. Capitalized terms
used, but not defined in this news release are as defined in the
Credit Agreement as amended by the Tenth Amendment, which will be
filed with the Securities and Exchange Commission.
The Tenth Amendment provides for a new $1,752 million tranche of term loans maturing in
2029 (the "Replacement Term Loans"), the proceeds of which were
used to refinance all outstanding Existing Tranche B-5 Term Loans.
The amortization rate for the Replacement Term Loans is 1.00% per
annum and the first installment shall be payable on or about
March 31, 2024. Pursuant to the Tenth
Amendment, the Applicable Margin is (i) 2.00% for the Replacement
Term Loans that are SOFR Loans and (ii) 1.00% for the Replacement
Term Loans that are ABR Loans.
About GoDaddy
GoDaddy helps millions of entrepreneurs globally start, grow,
and scale their businesses. People come to GoDaddy to name their
idea, build 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 assistance 24/7. To learn more about the company, visit
www.GoDaddy.com.
Source: GoDaddy Inc.
© 2024 GoDaddy Inc. All Rights Reserved.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/godaddy-inc-completes-refinancing-of-existing-tranche-b-5-term-loans-302041119.html
SOURCE GoDaddy Inc.