Endurance International Group Announces Successful Repricing of $1,580 Million Senior Secured Term Loan
June 15 2018 - 1:42PM
Endurance International Group Holdings, Inc. (“Endurance” or the
“Company”) (NASDAQ:EIGI), a leading provider of cloud-based
platform solutions designed to help small and medium-sized
businesses succeed online, today announced the pricing of its
$1,580 million first-lien term loan due February 2023 (the
“Repricing Term Loan”). The Company successfully priced the
Repricing Term Loan at an interest rate of LIBOR + 3.75%.
The proceeds of the Repricing Term Loan will be used to repay
the Company’s $1,580 million existing term loan. As part of the
transaction, the Company also extended the maturity of a majority
of its revolving credit facility to June 2023 (subject to a
“springing” maturity date in November 2022 if the Repricing Term
Loan has not been repaid or extended).
The closing of the Repricing Term Loan is subject to customary
documentation and other customary conditions precedent.
Affiliates of Credit Suisse, Goldman Sachs and Morgan Stanley
are acting as joint lead arrangers and bookrunners for the
Repricing Term Loan, and affiliates of Jefferies Finance and SG
America Securities are acting as joint bookrunners for the
Repricing Term Loan.
Forward-Looking StatementsThis press release
includes certain “forward-looking statements” within the meaning of
the Private Securities Litigation Reform Act of 1995, Section 27A
of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, including statements
concerning the potential repricing transaction. These
forward-looking statements include, but are not limited to, views
about our plans, objectives, expectations and intentions and other
statements contained in this press release that are not historical
facts, and statements identified by words such as “will” and
variations of such word or words of similar meaning and the use of
future dates. These forward-looking statements reflect our current
views about our plans, intentions, expectations, strategies and
prospects, which are based on the information currently available
to us and on assumptions we have made. Although we believe that our
plans, intentions, expectations, strategies and prospects as
reflected in or suggested by those forward-looking statements are
reasonable, we can give no assurance that these plans, intentions,
expectations, strategies or prospects will be attained or achieved.
Furthermore, actual results may differ materially from those
described in the forward-looking statements and will be affected by
a variety of risks and factors that are beyond our control
including, without limitation, risks and uncertainties discussed in
Endurance’s filings with the U.S. Securities and Exchange
Commission (the “SEC”), including the “Risk Factors” section of
Endurance’s most recent Quarterly Report on Form 10-Q for the
period ended March 31, 2018 filed with the SEC on May 4, 2018 and
other reports we file with the SEC.
We assume no obligation to update any forward-looking statements
contained in this document as a result of new information, future
events or otherwise.
About Endurance International Group Endurance
International Group Holdings, Inc. (NASDAQ:EIGI) (em)Powers
millions of small businesses worldwide with products and technology
to enhance their online web presence, email marketing, mobile
business solutions, and more. The Endurance family of brands
includes: Constant Contact, Bluehost, HostGator, Domain.com and
SiteBuilder, among others. Headquartered in Burlington,
Massachusetts, Endurance employs over 3,500 people across the
United States, Brazil, India and the Netherlands. For more
information, visit: www.endurance.com.
Endurance International Group and the compass logo are
trademarks of The Endurance International Group, Inc.
Constant Contact, the Constant Contact logo and other brand names
of Endurance International Group are trademarks of The Endurance
International Group, Inc. or its subsidiaries.
Investor Contact:Angela WhiteEndurance
International Group(781) 852-3450ir@endurance.com
Press Contact:Kristen AndrewsEndurance
International Group(781) 418-6716press@endurance.com
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