Web.com Group, a provider of internet services and online marketing solutions for small businesses, has increased its existing term loan by $50 million and added $110 million of additional capacity to its current revolving credit facility. As of closing, these changes to its existing credit facilities did not increase the company’s outstanding debt from the end of Q1/17. Web.com used the proceeds from the increased borrowing on the term loan to repay its current revolver balance.

According to a related 8-K filing, JPMorgan Chase served as administrative agent for the lenders.

“We are pleased with the upsizing of both our term loan and revolver. These changes, along with our strong free cash flow, give us additional flexibility and options to address our future debt maturity. The enhancements to our capital structure also speak to the strength of our business, and the increased liquidity enables us to continue our balanced approach to capital deployment,” said David L. Brown, chairman, chief executive officer and president of Web.com.

As of May 18, the term loan has a balance of $430.3 million, and the revolver balance is zero with total availability of $260 million. The maturity and current interest rate, LIBOR + 2.25%, of both facilities remain unchanged. The company incurred customary one-time costs associated with this transaction.

Jacksonville, FL-based Web.com Group is a global provider of internet services to small businesses.