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PROVO, Utah, Aug. 10, 2015 (GLOBE NEWSWIRE) -- 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.
Ancestry.com is the world's largest online family history resource with more than 2 million paying subscribers across all its websites. More than 16 billion records have been added, and users have created more than 70 million family trees to the core Ancestry websites, including its flagship site www.ancestry.com and its affiliated international websites. Ancestry.com offers a suite of online family history brands, including Archives.com, Fold3.com, Newspapers.com, as well as the AncestryDNA product, sold by its subsidiary, Ancestry.com DNA, LLC, and the new AncestryHealth product, offered by its subsidiary AncestryHealth.com, LLC, all of which, along with its core Ancestry websites, are designed to empower people to discover, preserve and share their family history.
This press release contains forward-looking statements, including statements relating to the Company's planned refinancing of its credit facility, that relate to future events and involve known and unknown risks, uncertainties and other factors that may cause the future events to be materially different from those anticipated in these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as "appears," "may," "designed," "expect," "intend," "focus," "seek," "anticipate," "believe," "estimate," "predict," "potential," "should," "continue" or "work" or the negative of these terms or other comparable terminology. Forward-looking statements involve a number of risks and uncertainties that could cause future events to differ materially from those anticipated by these forward-looking statements. In particular, such risks and uncertainties include the Company's perceived creditworthiness in the credit markets and the stability of the credit markets. Information concerning these and additional factors that could cause events to differ materially from those projected in the forward-looking statements is contained under the caption "Risk Factors" in Ancestry.com LLC's Quarterly Report on Form 10-Q for the period ended June 30, 2015, which was filed with the Securities and Exchange Commission on July 31, 2015, and in discussions in other of Ancestry.com LLC's Securities and Exchange Commission filings.
These forward-looking statements should not be relied upon as representing our views as of any subsequent date and we assume no obligation to publicly update or revise these forward-looking statements for any reason, whether as a result of new information, future events, or otherwise.
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