Web.com rises on favorable analyst take on debt offering

|About: Web.com Group, Inc (WEB)|By:, SA News Editor

Web.com (WWWW +2.4%) closed higher after FBR's David Hilal issued a favorable take on the company's $225M convertible debt offering: Hilal argues Web.com's "ability and willingness to aggressively pay down debt should allay investor concerns about the large amount of debt on the company's balance sheet."

With the company set to use the proceeds to pay off higher-interest debt, Hilal sees green pastures ahead. Interest expense savings will be "reinvested for growth, but some could drop to the bottom line."

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