Web.com launches offering of $225 million convertible notes due 2018

By Stephanie N. Rotondo

Phoenix, Aug. 8 - Web.com Group Inc. intends to sell $225 million of senior convertible notes due 2018, according to a press release on Thursday.

There is a $33.75 million over-allotment option.

Wells Fargo Securities LLC and Deutsche Bank Securities Inc. are the joint bookrunning managers.

Interest will be payable semiannually.

Proceeds will be used to repay debt.

Web.com is a Jacksonville, Fla.-based provider of internet services to small businesses.

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