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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.
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September 19, 2014
07:18 EDTWWWWWeb.com to hold a summit
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