TEMPE,
Ariz., July 19, 2023 /PRNewswire/ -- GoDaddy Inc.
(NYSE: GDDY), the company that helps entrepreneurs thrive, Go
Daddy Operating Company, LLC and GD Finance Co, LLC (each a
subsidiary of GoDaddy Inc. and together, the "Borrowers") closed
the credit agreement refinancing announced on July 14, 2023. In connection with the closing,
the Borrowers entered into an Eighth Amendment (the "Eighth
Amendment") to the Second Amended and Restated Credit Agreement,
dated February 15, 2017 (as amended,
restated, or otherwise modified from time to time, the "Credit
Agreement"), by and among the Borrowers, certain other GoDaddy
subsidiaries, Royal Bank of Canada
as the Administrative Agent, Collateral Agent, Swingline Lender and
Letter of Credit Issuer, and the other parties party thereto.
Capitalized terms used, but not defined in this news release are as
defined in the Credit Agreement and amended by the Eighth Amendment
as filed with the Securities and Exchange Commission.
The Eighth Amendment provides for a new $1,761 million tranche of term loans maturing in
2029 (the "Replacement Term Loans"), the proceeds of which were
used to refinance all outstanding Existing Amendment No. 6 Term
Loans. The amortization rate for the Replacement Term Loans is
1.00% per annum and the first installment shall be payable on or
about September 30, 2023. Pursuant to
the Eighth Amendment, the Applicable Margin is (i) 2.50% for the
Replacement Term Loans that are SOFR Loans and (ii) 1.50% for the
Replacement Term Loans that are ABR Loans.
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.
Source: GoDaddy Inc.
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SOURCE GoDaddy Inc.