EIG Investors to launch $1.16 billion credit facility on Wednesday

By Sara Rosenberg

New York, Nov. 12 - EIG Investors Corp. (Endurance International Group Holdings Inc.) is set to hold a conference call at 11 a.m. ET on Wednesday to launch a $1,159,000,000 credit facility, according to a market source.

Credit Suisse Securities (USA) LLC, Goldman Sachs Bank USA, Morgan Stanley Senior Funding Inc. and Wells Fargo Securities LLC are the lead banks on the deal.

The facility consists of a $1,034,000,000 senior secured first-lien term loan due Nov. 9, 2019 and a $125 million revolver, the source said.

The term loan is talked at Libor plus 400 basis points with a 1% Libor floor, a par offer price on the repricing portion of the loan and an original issue discount of 99½ on the $150 million of incremental debt being raised through this transaction, the source continued.

Included in the term loan is 101 soft call protection for six months.

Proceeds will be used to refinance existing first- and second-lien term loans.

Other funds for the refinancing will come from cash on hand.

Commitments are due on Nov. 20, the source added.

EIG is a Burlington, Mass.-based provider of web hosting and online services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.