J2 Global, Inc. Enters into a Fourth Amendment to the Credit Agreement
September 22, 2021 at 06:17 am EDT
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On September 16, 2021, J2 Global, Inc. entered into a Fourth Amendment dated September 16, 2021 to the Credit Agreement dated as of April 7, 2021, by and among J2, the subsidiaries of J2 party thereto as guarantors, Citicorp North America Inc. and MUFG Union Bank, N.A., as lenders (collectively, the “Lenders”) and MUFG Union Bank, N.A., as administrative agent for the Lenders (in such capacity, the “Agent”), as amended by the First Amendment to Credit Agreement dated as of June 2, 2021, the Second Amendment to Credit Agreement dated as of June 21, 2021, the Third Amendment to Credit Agreement dated as of August 20, 2021 and the Fourth Amendment (collectively, the “Credit Agreement”). As amended to date, the Credit Agreement provides for the issuance of a senior secured term loan under the Existing Credit Agreement, in an aggregate principal amount of $485,000,000 (the “Bridge Loan Facility”), and otherwise has the terms described in the Current Report on Form 8-K filed by J2 on June 3, 2021. Citicorp North America, Inc. has committed to provide $291 million of the Bridge Loan Facility and MUFG Union Bank, N.A. has committed to provide $194 million of the Bridge Loan Facility. As of September 16, 2021, $405 million principal amount was outstanding under the Bridge Facility and the Company expects to draw the full $485 million on or about September 23, 2021.
Ziff Davis, Inc. is a vertically focused digital media and Internet company. Its portfolio includes brands in technology, shopping, gaming and entertainment, connectivity, health, cybersecurity, and Martech. Its segments include Digital Media and Cybersecurity and Martech. The Digital Media segment specializes in the technology, shopping, gaming and entertainment, connectivity, and healthcare markets, offering content, tools, and services to consumers and businesses. Its Digital Media business operates a portfolio of Web properties and apps, which includes IGN, RetailMeNot, Mashable, PCMag, Humble Bundle, Speedtest, Offers.com, Black Friday, Medpage Today, Everyday Health, BabyCenter, What to Expect and others. The Cybersecurity and Martech segment provide cloud-based subscription services to consumers and businesses, including cybersecurity, privacy, and marketing technology. It markets its Cybersecurity and Martech offerings to a spectrum of prospective business customers.