Godaddy Inc. (NYSE: GDDY) has announced the refinancing of tranche b-5 term loans. The company allocated a $1,752 million tranche of term loans maturing in 2029, the proceeds of which will be used to refinance all outstanding tranche b-5 term loans. The transactions are subject to conditions and are anticipated to close in the first quarter of 2024.
A company spokesperson commented on the announcement, stating, "We are pleased to announce the refinancing of our term loans, which will provide us with the opportunity to manage our debt more efficiently and effectively."
The stock closed today with a movement of -0.2%, trading at a price of $104.54 per share.
Godaddy Inc. provides tools and support for entrepreneurs globally to start, grow, and scale their businesses. The company's easy-to-use tools assist microbusiness owners in managing everything in one place, with expert guides available to provide assistance 24/7.
The company's full 8-K submission is available here.
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Revenue (MM) | $2,660 | $2,988 | $3,317 | $3,816 | $4,091 | $4,194 |
| Revenue Growth | n/a | 12.33% | 11.0% | 15.05% | 7.22% | 2.5% |
| Operating Margins | 6% | 7% | 8% | 10% | 12% | 12% |
| Net Margins | 3% | 5% | -15% | 6% | 9% | 8% |
| Net Income (MM) | $77 | $137 | -$495 | $242 | $352 | $354 |
| Net Interest Expense (MM) | $98 | $92 | $91 | $126 | $146 | $178 |
| Depreciation & Amort. (MM) | $234 | $210 | $203 | $200 | $195 | $182 |
| Free Cash Flow (MM) | $472 | $636 | $698 | $778 | $920 | $903 |
| Capital Expenditures (MM) | $88 | $88 | $66 | $51 | $60 | $55 |
| Current Ratio | 0.76 | 0.79 | 0.56 | 0.78 | 0.64 | 0.45 |
GoDaddy has weak operating margins with a positive growth rate, declining EPS growth, and a highly leveraged balance sheet. On the other hand, the company benefits from growing revenues and decreasing reinvestment in the business and irregular cash flows.
