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J2 Global Announces Proposed Private Offering of $1,200,000,000 Senior Notes
LOS ANGELES--(BUSINESS WIRE)-- J2 Global, Inc. (NASDAQGS:JCOM) (“J2 Global”) today announced that it intends to offer, subject to market conditions and other
About this update from Ziff Davis, Inc.
[{"type":"text","content":" LOS ANGELES--(BUSINESS WIRE)--\nJ2 Global, Inc. (NASDAQGS:JCOM) (“J2 Global”) today announced that it intends to offer, subject to market conditions and other factors, $1,200,000,000 aggregate principal amount of its senior notes due 2030 in a private offering exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”).\n\nThe notes will be senior unsecured obligations of J2 Global and are to be guaranteed on an unsecured basis by certain of J2 Global’s existing and future domestic subsidiaries. The interest rate and certain other terms of the notes will be determined at the time of pricing of the offering.\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. 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 applicable exemption from the registration requirements. The notes and the related guarantees are to be 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 any jurisdiction in which such offer, solicitation or sale would be unlawful.\n\n“Safe Harbor” Statement Under the Private Securities Litigation Reform Act of 1995\n\nCertain statements in this Press Release are “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995 with respect to the proposed senior notes offering. These forward-looking statements are subject to numerous assumptions, risks and uncertainties, including market and other conditions and, with respect to the proposed use ...