GoDaddy closes $1.77B term loan refinancing and upsizes revolver to $1B

GoDaddy Inc.

New $1,770M Replacement Term Loans due 2029 refinance all outstanding Tranche B-2 Term Loans.
Revolving credit facility increased to $1,000M (from $600M), maturing 2027.
Initial SOFR margins: 3.25% for term loans, 1.50% for revolver loans; ABR margins 2.25% and 0.50%.
Compliance period threshold for first lien secured leverage ratio raised from 20% to 40% revolver utilization.
Amortization on Replacement Term Loans at 1.00% per annum, first payment due March 31, 2023.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

GoDaddy Inc. amended Sixth Amendment with the lenders, Barclays Bank PLC, and Royal Bank of Canada (effective 2022-11-10).

Action: amendment
Agreement: credit facility
Counterparty: the lenders, Barclays Bank PLC, and Royal Bank of Canada
Effective: 2022-11-10

Exact text from the filing

On November 10, 2022, Go Daddy Operating Company, LLC and GD Finance Co, LLC (each, a direct or indirect subsidiary of GoDaddy Inc. and together, the “Borrowers”) entered into a Sixth Amendment (the “Sixth Amendment”) in respect of the Second Amended and Restated Credit Agreement dated as of February 15, 2017

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GoDaddy Inc. filing history →

Source: SEC EDGAR

accession 0001609711-22-000141

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