EIG Investors lifts first-lien term loan size to $1.05 billion

By Sara Rosenberg

New York, Nov. 21 - EIG Investors Corp. (Endurance International Group Holdings Inc.) upsized its senior secured first-lien term loan due Nov. 9, 2019 to $1.05 billion from $1,034,000,000, according to a market source.

The upsizing resulted from the company opting to raise $166 million of tack-on debt as opposed to $150 million, the source said. The remaining $884 million is repricing an existing first-lien term loan.

Pricing on the term loan is still Libor plus 400 basis points with a 1% Libor floor, a par offer price on the repricing portion of the loan and an original issue discount of 99½ on the incremental debt.

Included in the term loan is 101 soft call protection for six months.

The company's now $1,175,000,000 credit facility (B2/B), up from $1,159,000,000, also provides for a $125 million revolver.

Credit Suisse Securities (USA) LLC, Goldman Sachs Bank USA, Morgan Stanley Senior Funding Inc. and Wells Fargo Securities LLC are the lead banks on the deal.

Proceeds will be used to refinance existing first- and second-lien term loans.

EIG is a Burlington, Mass.-based provider of web hosting and online services.

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