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Go Daddy launches $835 million term loan at Libor plus 275 bps
By Sara Rosenberg
New York, Nov. 18 - Go Daddy Operating Co. LLC launched on Monday its $835 million senior secured covenant-light term loan due Dec. 17, 2018 with price talk of Libor plus 275 basis points with a 1% Libor floor and a par offer price, according to a market source.
The term loan has 101 soft call protection for six months and amortization of 1% per annum, the source said.
Barclays, KKR Capital Markets and Deutsche Bank Securities Inc. are leading the deal.
Proceeds will be used to reprice an existing term loan from Libor plus 325 bps with a 1% Libor floor.
Commitments are due on Thursday, the source added.
Go Daddy is a Scottsdale, Ariz.-based provider of web hosting and domain names.
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