Sept. 28 (Bloomberg) -- Go Daddy Group Inc.’s $750 million term loan to support its buyout by KKR & Co., Silver Lake Partners and Technology Crossover Ventures rose in initial trading, according to a person with knowledge of the transaction.
The seven-year debt, sold to investors at 93 cents on the dollar, began trading at 94.5 cents and rose to 95 cents, said the person, who declined to be identified because the trades are private.
Michael Zimmerman, chief financial officer of Scottsdale, Arizona-based Go Daddy, didn’t respond to an e-mail seeking comment.
Barclays Plc, Deutsche Bank AG, Royal Bank of Canada, KKR and Goldman Sachs Group Inc. arranged the loan with an interest rate of 5.75 percentage points more than the London interbank offered rate and a 1.25 percent floor on the lending benchmark, Bloomberg data show.
--Editors: Faris Khan, John Parry
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