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Stock Market & Financial Investment News

News Breaks
February 12, 2013
07:46 EDTWWWWWeb.com to raise first lien credit facility to $660M to repay second facility
Web.com announced that it plans to amend, increase and re-price its First Lien Credit Facility and use the proceeds of such increase to repay the remaining balance of its Second Lien Term Loan. The company will seek improved terms on its First Lien Term Loan, which has a current interest rate of LIBOR plus 4.25%, with a LIBOR floor of 1.25%, and a balance of approximately $628M at December 31, 2012. The company will seek to increase the size of the First Lien Term Loan to $660M to repay in full the remaining balance of the Second Lien Term Loan, which was approximately $32M at December 31, 2012. The company also expects that its Revolving Credit Facility, which currently has an interest rate of LIBOR plus 3.75%, will be increased by $10M and amended to reflect reduced pricing. Since the Network Solutions acquisition in October 2011, the company has reduced its debt balance by $70M.
News For WWWW From The Last 14 Days
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December 18, 2014
06:44 EDTWWWWWeb.com called a top small cap pick for 2015 at Piper Jaffray
Piper Jaffray names Web.com a top small cap pick for 2015 saying it believes the company will end two consecutive quarters of disappointments when reporting December quarter results. Piper has an Overweight rating on the stock with a $25 price target.
December 9, 2014
10:39 EDTWWWWWeb.com holder Okumus reports 14.8% stake, changes stance to active
Okumus Fund Management reported a 14.8% stake in Web.com and changed its filing designation to active. Okumus stated in its filing that it may in the future continue to engage in communications with management and the board of the company, engage in discussions with shareholders of Web.com and others about the company, make other proposals to the company concerning changes to the capitalization, ownership structure, board structure or composition or operations of Web.com. Okumus previously identified itself as a passive stakeholder.

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