GoDaddy Inc. Completes Refinancing of Tranche B-2 Term Loans and Revolving Credit Facility

TEMPE, Arizona., November 10, 2022 /PRNewswire/ — GoDaddy Inc. (NYSE: GDDY) Go Daddy Operating Company, LLC and GD Finance Co, LLC (each a subsidiary of GoDaddy Inc. and collectively the “Borrowers”) completed the announced refinancing of the Facility Facility on October 21, 2022. In connection with the Closing, the Borrowers entered into a sixth amendment (the “Sixth Amendment”) to the Second Amended and Restated Facility Agreement, dated February 15, 2017 (as amended, adjusted or otherwise amended the “Loan Agreement” from time to time), by and between the Borrowers, certain other GoDaddy affiliates, the Royal Bank of Canada as Successor Administrator, Collateral Agent, Swingline Lender and Letter of Credit Issuer and the other parties involved. Terms used but not defined in this press release are defined in the Loan Agreement and modified by the Sixth Amendment as filed with the Securities and Exchange Commission.

The sixth amendment introduces (i) a new one $1,770 million tranche of term loans due 2029 (the “Replacement Term Loans”), the proceeds of which were used to refinance all outstanding Tranche B-2 Term Loans, and (ii) a new revolving credit facility of 1,000 million dollars due in 2027, which replaced Borrowers’ existing revolving commitments 600 million dollars. The amortization rate for the replacement loans is 1.00% per annum and the first installment is payable March 31, 2023. The Applicable Initial Margin is (i) 3.25% for Life Replacement Loans that are Secured Overnight Financing Rate (“SOFR”) Loans, (ii) 2.25% for Life Replacement Loans that are are ABR Loans, (iii) 1.50% for such New Revolving Commitments for Loans that are SOFR Loans, and (iv) 0.50% for such New Revolving Commitments for Loans that are ABR Loans.

The Sixth Amendment also amended the Credit Agreement to provide that the compliance period with respect to the consolidated senior secured debt ratio of certain of the Company’s subsidiaries occurs upon a drawdown of at least 40% of the revolving facility, as opposed to the previous drawdown of at least 20%.

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Source: GoDaddy Inc.

SOURCE GoDaddy Inc.

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