If you follow the finances of Ancestry.com LLC, the parent company of Ancestry.com Inc., you will be interested in the company’s announcement today of a major refinancing. The announcement says (in part):
“Ancestry.com LLC today announced that its subsidiary, Ancestry.com Inc. (the “Company”), intends to refinance its credit facility. The Company expects that the new credit facility will consist of a $735 million first lien term loan that matures in 2022 and a $100 million revolving credit facility that matures in 2020. The Company anticipates that the proceeds of the new credit facility, together with cash on the balance sheet, will be used to repay the existing credit facility in full, pay a cash dividend to shareholders, pay fees and expenses related to the refinancing, and for general corporate purposes. Closing is expected to occur in August 2015, subject to market and other customary conditions.”
The full announcement is available at http://goo.gl/1CEHuY.