Web.com Group, Inc. (NASDAQ:WEB) Files An 8-K Entry into a Material Definitive Agreement


Web.com Group, Inc. (NASDAQ:WEB) Files An 8-K Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement.

On May 18, 2017, Web.com Group, Inc. (referred to as “Web.com”
or “the Company”) entered into Amendment No. 2 to its Credit
Agreement with its existing lenders and JPMorgan Chase Bank,
N.A., as administrative agent for the lenders. The amendment
increased the Company’s existing term loan by $50.0 million and
added $110.0 million of additional capacity to its current
revolving credit facility. This amendment to its existing credit
facilities did not increase the Companys outstanding debt from
the end of the first quarter of 2017. The maturity and current
interest rate, LIBOR, plus 2.25%, of both facilities remain
unchanged. The Company incurred customary one-time costs
associated with this transaction.
Web.com used the proceeds from the increased borrowing on the
term loan to repay its current revolver balance. As of May 18,
2017, the balance of the Company’s term loan is $430.3 million,
and the revolver balance is zero, with total availability of
$260.0 million.
Item 2.03. Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement of a Registrant.
See Item 1.01 above, which is incorporated by reference herein.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Press Release, dated May 18, 2017, entitled Web.com
Announces the Expansion and Amendment of Existing Term
Loan and Revolving Credit Facility.

About Web.com Group, Inc. (NASDAQ:WEB)

Web.com Group, Inc. provides a range of Internet services to small businesses. The Company operates through Web services and products segment. The Company offers subscription-based solutions including domains, hosting, Website design and management, search engine optimization, online marketing campaigns, local sales leads, social media, mobile products and e-commerce solutions. The Company offers Domain Name Registration and Services, Do-It-For-Me Web Solutions, Do-It-Yourself Web Solutions and Online Marketing Services. The Company offers online advertising opportunities for companies focused on small businesses to be featured on its Websites. The Company offers directory listings, which is an online search directory that gives businesses online exposure. The Company also offers a range of domain name services, including domain name registration, transfers, renewals, expiration protection and privacy services.

Web.com Group, Inc. (NASDAQ:WEB) Recent Trading Information

Web.com Group, Inc. (NASDAQ:WEB) closed its last trading session up +0.39 at 20.94 with 370,260 shares trading hands.