Seeking Alpha

Web.com rises on favorable analyst take on debt offering

  • 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."
  • Previous: Web.com falls after announcing $225M debt offering
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