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Dye & Durham Announces Closing of USD $905 million Refinancing Transactions
Dye & Durham Announces Closing of USD $905 million Refinancing Transactions Dye &am...
About this update from Dye & Durham Ltd.
[{"type":"text","content":"\n \n \n \n Dye & Durham Announces Closing of USD $905 million Refinancing Transactions\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n Dye & Durham Announces Closing of USD $905 million Refinancing Transactions\n \n \n Canada NewsWire\n \n \n \n \n \n \n \n Provides enhanced financial flexibility to execute upon strategic priorities\n \n \n \n \n \n \n Estimated annualized net interest cost savings of approximately CAD\n \n $20\n \n million\n \n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n April 11, 2024\n \n \n /CNW/ - Dye & Durham Limited (\"\n \n Dye & Durham\n \n \") (TSX: DND) today announced that Dye & Durham Corporation (the \"\n \n Company\n \n \"), a wholly-owned subsidiary of Dye & Durham, has closed its previously announced private offering of USD\n \n $555 million\n \n aggregate principal amount of its 8.625% senior secured notes due 2029 (the \"\n \n New Senior Secured Notes\n \n \"), its previously announced USD\n \n $350 million\n \n aggregate principal amount senior secured Term Loan B Facility (the \"\n \n New Term Loan Facility\n \n \") and its CAD\n \n $105 million\n \n revolving credit facility (the \"\n \n New Revolving Facility\n \n \", together with the New Term Loan Facility, the \"\n \n New Senior Secured Credit Facilities\n \n \", and together with the New Senior Secured Notes, the \"\n \n Refinancing Transactions\n \n \").\n \n \n \"We believe the success of the refinancing transactions reflect investors' confidence in our business, performance, and leadership position within the global legal technology market,\" said\n \n Matt Proud\n \n , Chief Executive Officer of Dye & Durham. \"We expect this refinancing will generate approximately CAD\n \n $20 million\n \n in annualized net interest cost savings, providing us with enhanced financial flexibility, a strengthened balance sheet, and positioning us well to execute on our strategic priorities in an effort to drive sustainable shareholder value.\"\n \n \n After giving effect to the Refinancing Transaction, Dye & Durham's total net senior debt to Furt...