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Tempe, Arizona, November 10, 2022 /PRNewswire/ — GoDaddy Inc. (NYSE: GDDY) Go Daddy Operating Company, LLC and GD Finance Co, LLC (each a subsidiary of GoDaddy Inc. and collectively, the “Borrower”) announced on December 11, 2018 that Executed the announced refinancing credit agreement. October 21, 2022In connection with the closing, the borrower has entered into a Sixth Amendment (“Sixth Amendment”) to the Second Amendment and the Amended Credit Agreement. February 15, 2017 (the “Credit Agreement” as amended, restated or otherwise modified from time to time), the Borrower, certain other GoDaddy subsidiaries, the Royal Bank of Canada As successor managing agents, collateral agents, Swingline lenders, letter of credit issuers and other parties. Terms used but not defined in this news release are defined in the Credit Agreement, as amended by the Sixth Amendment filed with the Securities and Exchange Commission.
The Sixth Amendment provides that (i) a new $1.77 billion The tranche of the Term Loan maturing in 2029 (the “Replacement Term Loan”), the proceeds of which were used to refinance all outstanding Tranche B-2 Term Loans. billion dollars It matures in 2027 and replaces the borrower’s existing revolving commitments. $600 millionThe replacement term loan has an amortization rate of 1.00% per annum and the first installment is March 31, 2023The initial applicable margin is (i) 3.25% for Replacement Term Loans that are Collateralized Overnight Financing Rate (“SOFR”) Loans; (ii) 2.25% for Replacement Term Loans that are ABR Loans; (iii) 1.50% for such loans; (iv) 0.50% of any new revolving commitments for loans that are SOFR loans, and (iv) such new revolving commitments for loans that are ABR loans;
In addition, the Sixth Amendment amends the Credit Agreement so that the compliance period associated with certain of our subsidiaries’ consolidated first lien secured leverage ratios will be at least 40% of the revolving facility, as opposed to previous levels of utilization. It stipulates that it occurs when % is used. of at least 20%.
About GoDaddy
GoDaddy helps millions of entrepreneurs around the world start, grow and scale their businesses. People come to GoDaddy to name ideas, build professional websites, engage customers, sell products and services, and receive payments online and in person. GoDaddy’s easy-to-use tools help the microbusiness owner manage everything in her one place, and its expert guides provide his 24/7 support. For more information about the company, please visit www.GoDaddy.com.
Source: GoDaddy Inc.
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