GoDaddy Inc. has announced the successful completion of the refinancing of its existing Tranche B-5 Term Loans. The company's subsidiary, Go Daddy Operating Company, LLC, and GD Finance Co, LLC, closed the credit agreement refinancing and entered into a Tenth Amendment to the Second Amended and Restated Credit Agreement.
As a result of the refinancing, a new $1,752 million tranche of term loans maturing in 2029, known as the "Replacement Term Loans," was established. The proceeds from these loans were utilized to refinance all outstanding existing Tranche B-5 Term Loans. The first installment for the Replacement Term Loans, with an amortization rate of 1.00% per annum, is scheduled for payment on or about March 31, 2024.
Regarding the terms of the Tenth Amendment, the Applicable Margin for the Replacement Term Loans is 2.00% for SOFR Loans and 1.00% for ABR Loans.
GoDaddy Inc. is a company that assists entrepreneurs globally in starting, growing, and scaling their businesses. Its services range from helping individuals name their ideas, build professional websites, attract customers, sell products and services, to accepting payments online and in-person. The company's tools cater to microbusiness owners, providing them with the convenience of managing everything in one place, complemented by expert guidance available 24/7.
In light of this news, GoDaddy Inc.'s shares have experienced a 0.1% movement, reaching a trading price of $108.39.
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 |
| Earnings Per Share | $0.43 | $0.75 | -$2.94 | $1.42 | $2.18 | $2.3 |
| EPS Growth | n/a | 74.42% | -492.0% | 148.3% | 53.52% | 5.5% |
| Diluted Shares (MM) | 181 | 182 | 169 | 171 | 161 | 154 |
| 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 |
