By Paul A. Harris
Portland, Ore., Feb. 9 – Endurance International Group Holdings Inc. announced in a Tuesday press release that it has priced $350 million of 10 7/8% senior notes due February 2024 at 98.065.
The deal is priced; however, the notes have not been syndicated, according to market sources.
Goldman Sachs & Co. is the left bookrunner. Credit Suisse Securities (USA) LLC and Jefferies LLC are the joint bookrunners.
Proceeds, along with a $735 million incremental term loan and cash on hand from the balance sheets of Constant Contact Inc. and Endurance, will be used to refinance Endurance’s existing revolving credit facility and to fund the acquisition of Constant Contact.
The incremental term loan also has not been syndicated, sources said on Tuesday.
Endurance is a Burlington, Mass.-based provider of web hosting and online services. Constant Contact is a Waltham, Mass.-based online marketing company.
| Issuer: | Endurance International Group Holdings, Inc.
|
| Face amount: | $350 million
|
| Proceeds: | $343,227,500
|
| Maturity: | February 2024
|
| Securities: | Senior notes
|
| Left bookrunner: | Goldman Sachs & Co.
|
| Joint bookrunners: | Credit Suisse Securities (USA) LLC, Jefferies LLC
|
| Coupon: | 10 7/8%
|
| Price: | 98.065
|
| Distribution: | Rule 144A with registration rights
|
| Marketing: | Roadshow
|
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