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OFFON

ENDURANCE INTERNATIONAL GROUP HOLDINGS, INC.

(EIGI)
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Endurance International Group Holdings, Inc. Enters in to Credit Agreement for a Term Loan Facility in an Aggregate Principal Amount of $1,935.0 Million, with a Maturity of Seven Years

02/10/2021 | 04:06pm EST

On February 10, 2021, in connection with the Merger, Endurance International Group Holdings, Inc. assumed Merger Sub’s obligations and entered into the Credit Agreement, dated as February 10, 2021, by and among the Company and certain of its affiliates, each lender from time to time party thereto, each L/C Issuer party thereto, and JPMorgan Chase Bank, N.A., as Administrative Agent, Collateral Agent and an L/C Issuer providing for senior secured financing consisting of a term loan facility (the “Term Loan Facility”) in an aggregate principal amount of 1,935.0million, with a maturity of seven years; a delayed draw term loan facility (the “ Delayed Draw Term Loan Facility”) in an aggregate principal amount of 465.0million, with a maturity of equal to that of the Term Loan Facility; and a revolving credit facility (the “Revolving Credit Facility” and, together with the Term Loan Facility and the Delayed Draw Term Loan Facility, the “Senior Facilities”), in an aggregate committed amount of up to 275.0million, with a maturity of five years. In addition, the Company may request one or more (i) incremental term loan facilities and (ii) increases in revolving loan commitments, in each case up to a specified amount, plus an additional amount if the Company attains certain leverage ratios, in each case, subject to certain conditions and receipt of commitments by existing or additional lenders. Proceeds of the term loans drawn on the closing date were used to fund the transactions contemplated by the Merger Agreement. Interest Rates and Fees: Borrowings under the Senior Facilities will bear interest at a rate equal to, at the option of the Company, either (i) a LIBOR rate determined by reference to the costs of funds for Eurodollar deposits for the interest period relevant to such borrowing, adjusted for certain additional costs, subject to a 0.75% LIBOR floor for the Term Loan Facility and the Delayed Draw Term Loan Facility and a 0.00% LIBOR floor for the Revolving Credit Facility or (ii) a base rate determined by reference to the highest of (a) the federal funds rate plus 0.50% per annum, (b) the prime rate on such day and (c) the one-month adjusted LIBOR plus 1.00% per annum, in each case plus an applicable margin for initial term loans. The initial applicable margin for borrowings is 3.50% with respect to LIBOR borrowings and 2.50% with respect to base rate borrowings, in each case under the Term Loan Facility and the Delayed Draw Term Loan Facility. Until March 31, 2021, the initial applicable margin for borrowings under the Revolving Credit Facility is 3.50% with respect to LIBOR borrowings and 2.50% with respect to base rate borrowings. Thereafter, the applicable margin with respect to the Revolving Credit Facility will decrease by up to 50 basis points if the consolidated first lien net leverage ratio is equal to or less than certain specified first lien net leverage ratios.


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Managers and Directors
Sharon T. Rowlands Chief Executive Officer
Pedro Martin Urrutia Vice President-Finance
Mehdi Khodadad Secretary