KKR & Co.-backed Go Daddy Operating Co. is seeking a $1.1bn loan to finance a dividend to its private-equity owners, according to a person with knowledge of the transaction.

Go Daddy will use some of the proceeds to refinance an existing term loan, said the person, who asked not to be identified without authorization to speak publicly. About one-third of the loan will be used to fund the dividend, according to a separate person with knowledge of the deal.