TEMPE,
Ariz., May 31, 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 and extension. In connection with the closing, the
Borrowers entered into an Eleventh Amendment (the "Eleventh
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
herein, but not otherwise defined herein are as defined in the
Credit Agreement as amended by the Eleventh Amendment, which will
be filed with the Securities and Exchange Commission.
The Eleventh Amendment provides for a new $1,000 million tranche of term loans maturing in
2031 (the "Replacement Term Loans"), the proceeds of which were
used to refinance and extend the maturity of all outstanding
Existing Tranche B-4 Term Loans and Repaid Tranche B-6 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
September 30, 2024. Pursuant to the
Eleventh Amendment, the Applicable Margin is (i) 1.75% for the
Replacement Term Loans that are SOFR Loans and (ii) 0.75% 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.
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SOURCE GoDaddy Inc.