j2 Global Announces Proposed $550 Million Senior Unsecured Debt Offering
June 16 2017 - 11:23AM
Business Wire
j2 Global, Inc. (NASDAQGS:JCOM) (“j2 Global”) and its
subsidiary, j2 Cloud Services, LLC (“j2 Cloud”), today announced
that j2 Cloud and j2 Cloud Co-Obligor, Inc. are proposing to
issue $550 million in senior unsecured notes due 2025 (the
“Notes”) in a private offering that is exempt from the registration
requirements of the Securities Act of 1933, as amended (the
“Securities Act”). The Notes are expected to be guaranteed on an
unsecured basis by certain of j2 Cloud’s wholly-owned restricted
subsidiaries.
j2 Cloud intends to use the net proceeds from the offering to
redeem all of its outstanding 8.000% Senior Notes due 2020, to
distribute sufficient net proceeds to j2 Global to pay off all
amounts outstanding under j2 Global’s existing credit facility and,
to the extent any proceeds remain thereafter, for general corporate
purposes, which may include acquisitions.
The Notes and the related guarantees have not been and will not
be registered under the Securities Act or any state securities
laws, and may not be offered or sold in the United States absent
registration or an applicable exemption from the registration
requirements. The Notes and the related guarantees are to be
offered only to persons reasonably believed to be qualified
institutional buyers in reliance on Rule 144A under the Securities
Act, and outside the United States only to non-U.S. persons
pursuant to Regulation S.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any security and shall not
constitute an offer, solicitation or sale in any jurisdiction in
which such offer, solicitation or sale would be unlawful.
“Safe Harbor” Statement Under the Private Securities
Litigation Reform Act of 1995: Certain statements in this Press
Release are “forward-looking statements” within the meaning of The
Private Securities Litigation Reform Act of 1995 with respect to
the proposed senior notes offering. These forward-looking
statements are subject to numerous assumptions, risks and
uncertainties, including market and other conditions and, with
respect to the proposed use of proceeds, the availability of
acquisition targets on acceptable terms or at all. There are
important factors that could cause our actual results, level of
activity, performance or achievements to differ materially from the
results, level of activity, performance or achievements expressed
or implied by the forward-looking statements, including those
factors described in j2 Global’s Annual Report on Form 10-K,
Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and
other documents filed from time to time by j2 Global with the SEC.
Although management’s expectations may change after the date of
this press release, j2 Global and j2 Cloud undertake no obligation
to revise or update these statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20170616005446/en/
j2 Global, Inc.Laura Hinson, 800-577-1790Laura.hinson@j2.com
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