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J2 Global Announces Pricing of $750,000,000 Offering of Senior Notes
LOS ANGELES--(BUSINESS WIRE)-- J2 Global, Inc. (NASDAQGS:JCOM) (“J2 Global”) today announced the pricing of $750,000,000 aggregate principal amount of its
About this update from Ziff Davis, Inc.
[{"type":"text","content":" LOS ANGELES--(BUSINESS WIRE)--\nJ2 Global, Inc. (NASDAQGS:JCOM) (“J2 Global”) today announced the pricing of $750,000,000 aggregate principal amount of its 4.625% senior notes due 2030 in a private offering exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”). The offering of the notes is expected to close on October 7, 2020, subject to customary closing conditions.\n\nThe notes will be senior unsecured obligations of J2 Global and bear interest at a rate of 4.625% per year, payable semi-annually in arrears on April 15 and October 15 of each year, beginning on April 15, 2021, and are to be guaranteed on an unsecured basis by certain of J2 Global’s existing and future domestic subsidiaries. The notes will mature on October 15, 2030, unless earlier redeemed or repurchased.\n\nJ2 Global expects to use a portion of the net proceeds from the offering of the notes to redeem the existing $650 million aggregate principal amount of 6.0% senior notes due 2025 of J2 Global’s wholly-owned subsidiaries, j2 Cloud Services, LLC and j2 Cloud Co-Obligor, Inc. In addition, the credit agreement, dated as of January 7, 2019, by and among j2 Cloud Services, LLC, the lenders from time to time party thereto and MUFG Union Bank N.A. (the senior secured credit facility) will be terminated in full in connection with the offering of the notes. J2 Global intends to enter into a new senior secured credit facility in the near term. J2 Global expects to use the remainder of the net proceeds from the offering for general corporate purposes, which may include acquisitions and the repurchase or redemption of other outstanding indebtedness.\n\nNeither the notes, nor the related guarantees, have been nor will be registered under the Securities Act or any state securities laws, and may not be offered or sold in the United States except pursuant to an applicable exemption from the registration requirements. The notes and the related guarantees were offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act, and outside the United States only to non-U.S. persons pursuant to Regulation S.\n\nThis press release shall not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in ...