GoDaddy Refinances $1 Billion in Term Loans

Godaddy Inc. (NYSE: GDDY) has announced the refinancing of tranche B-4 term loans, with the allocation of $1,000 million in replacement term loans maturing in 2031. In connection with this, the company intends to refinance and extend the maturity date of all outstanding tranche B-4 loans and up to $278 million of outstanding tranche B-6 term loans. These transactions are subject to conditions and are anticipated to close in the second quarter of 2024.

In the previous period, the company had outstanding tranche B-4 and B-6 term loans, but with the new announcement, these are being refinanced and extended. This represents a significant change in the company's debt structure and maturity profile.

Furthermore, the allocation of $1,000 million in replacement term loans indicates a substantial increase in the amount of term loans allocated compared to the previous period.

The company's decision to refinance and extend the maturity date of its outstanding loans reflects its strategy to manage its debt obligations and optimize its capital structure.

It's important to note that while the transactions are anticipated to close in the second quarter of 2024, there is no assurance that the borrowers will be able to successfully complete the transactions on the terms described above, or at all.

For more information about Godaddy, visit www.godaddy.com. Today the company's shares have moved -0.1% to a price of $138.75. If you want to know more, read the company's complete 8-K report here.

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