GoDaddy Inc. Announces Refinancing of Tranche B-4 Term Loans
Rhea-AI Summary
GoDaddy announced a refinancing move involving a $1,000 million tranche of term loans maturing in 2031. The refinancing aims to extend the maturity of its Tranche B-4 and up to $278 million of its Tranche B-6 term loans under an amended credit agreement.
The new term loans are expected to close in Q2 2024, although successful completion is not guaranteed.
Positive
- $1,000 million tranche of term loans maturing in 2031.
- Refinancing extends maturity of Tranche B-4 and up to $278 million of Tranche B-6 term loans.
- Potential for improved liquidity and financial flexibility.
Negative
- Successful completion of refinancing is not guaranteed.
- Potential risk if conditions for the transaction are not met.
News Market Reaction – GDDY
In the trading session that priced this news, GDDY gained 0.30%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
The foregoing transactions are subject to conditions and are anticipated to close in the second quarter of 2024. However, there can be no assurance that the Borrowers will be able to successfully complete the transactions on the terms described above, or at all.
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.
Forward-looking Statements
This news release may contain forward-looking statements, including, but not limited to, our financing plans and the details thereof, including the proposed use of proceeds therefrom, the expected timing of the Term Loan Refinancing with the Replacement Term Loans and the ability to close such transaction. Forward-looking statements may generally be identified by the use of the words "anticipates," "expects," "predicts," "goals," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," "target," "commit," "forecast," "tracking," or "continue" and variations or similar expressions, and phrases or statements that certain actions, events or results may, could, should or will be achieved, received or taken or will occur or result, and similar such expressions also identify forward-looking information. These forward-looking statements are based upon the current expectations and beliefs of management and are provided for the purpose of providing additional information about such expectations and beliefs and readers are cautioned that these statements may not be appropriate for other purposes. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results and events to differ materially from those described in these forward-looking statements. These risks and uncertainties include, but are not limited to, the risks and uncertainties discussed in GoDaddy Inc.'s most recent annual and quarterly reports and detailed from time to time in the Company's other filings with the
Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. GoDaddy Inc. undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law.
Source: GoDaddy Inc.
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SOURCE GoDaddy Inc.