Endurance International revises price talk on $305 million term loan

By Sara Rosenberg

New York, Sept. 27 - Endurance International Group updated price talk on its $305 million first-lien term loan B to Libor plus 650 basis points with a 1.5% Libor floor and an original issue discount of 95½ to 96, according to a market source.

By comparison, at launch the loan was talked at Libor plus 625 bps to 650 bps with a 1.5% Libor floor and a discount of 96.

The maturity on the B loan was also shortened to five years from six years, the source said.

The company's $340 million credit facility (B2) also includes a $35 million three-year revolver.

Morgan Stanley & Co. LLC is the lead bank on the deal.

Proceeds will be used to refinance existing debt and for general corporate purposes.

Endurance International is a Burlington, Mass.-based provider of online services to small- and medium-sized businesses.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.