Endurance’s $1.58 Billion Refinancing

June 22, 2018

Cleary Gottlieb represented Endurance International Group Holdings, Inc. in the refinancing of its existing term loans by way of new first-lien term loans due February 2023, and the extension of the maturity date of $106.5 million of the company’s revolving commitments.

The refinancing consisted of a single tranche of first-lien term loans in an aggregate principal amount of approximately $1.58 billion, and the transaction closed on June 20, 2018. The proceeds of the transaction were used to repay Endurance’ outstanding $1.58 billion term loans due February 2023 (the 2023 Term Loans).

The new first-lien term loans are priced at an interest rate of LIBOR + 375, which is 25 basis points lower than the pricing of the 2023 Term Loans.

Endurance is a leading provider of web services to small and medium-sized businesses based in Burlington, Massachusetts.