GoDaddy Inc. announced on December 16, 2024, the successful completion of its previously announced credit agreement refinancing. This involved Go Daddy Operating Company, LLC and GD Finance Co, LLC closing the Twelfth Amendment to their Second Amended and Restated Credit Agreement.
The refinancing established a new $1,463 million tranche of term loans maturing in 2029, with the proceeds used to retire all outstanding Existing Tranche B-6 Term Loans. This move streamlines the company's debt obligations and enhances its financial flexibility.
Under the terms of the Twelfth Amendment, the Applicable Margin for the Replacement Term Loans is 1.75% for SOFR Loans and 0.75% for ABR Loans, representing a 0.25% reduction in the interest rate margin. This reduction is expected to contribute to operational efficiencies and improved profitability.
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