Web.com Prices $225 Mln Of Senior Convertible Notes

(RTTNews) - Web.com Group, Inc. (WWWW) said Friday that it has priced $225.0 million aggregate principal amount of 1.00% senior convertible notes due 2018.

The company has also granted the underwriters a 30-day option to purchase up to an additional $33.75 million aggregate principal amount of notes on the same terms and conditions to cover over-allotments.

The company estimates that the net proceeds from the offering of the notes will be about $218.5 million, or $251.4 million if the underwriters exercise their over-allotment option in full, after deducting the underwriters' discounts and commissions and estimated offering expenses payable by Web.com.

Web.com plans to use the net proceeds from the offering for repayment of indebtedness.