Cooley LLP announced that it advised Web.com (NASDAQ: WWWW) on its $800 million acquisition financing, consisting of a $650 million First Lien Senior Secured Credit Facility and a $150 million Second Lien Senior Secured Credit Facility. Web.com completed its acquisition of Network Solutions on October 27, 2011. The First Lien Credit Facility consisted of a $600 million six-year First Lien Term Loan and a $50 million Revolving Credit Facility. The Second Lien Credit Facility consisted of a seven-year Second Lien Term Loan. Web.com used the net proceeds of the Credit Facilities to finance a portion of its acquisition of privately held Network Solutions and pay off Web.com’s previous loan facility, and related fees and expenses.
Web.com Group, Inc. is a leading provider of internet services and online marketing solutions for small and medium businesses. Web.com meets the needs of small and medium businesses anywhere along their lifecycle by offering a full range of online services and support, including domain name registration services, website design, logo design, search engine optimization, search engine marketing and local sales leads, general contractor leads, franchise and homeowner association websites, shopping cart software, eCommerce web site design and call center services.
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