Conduent To Refinance Term Loan, Revolving Facility

Conduent Inc CNDT will swap its existing term loans, due in 2022 and 2023, for a new term loan due in 2028 and Senior Secured Notes due in 2029, worth $1.5 billion in aggregate.
Additionally, Conduent will swap its existing revolving facility with a new $550 million revolving facility.
The New Notes will be offered in a private institutional placement.
Corporate Controller Stephen (Steve) Wood was named the CFO effective June 11 following the departure of Brian Webb-Walsh to pursue an external opportunity.
Conduent held $1.4 billion in long-term debt as of March 31, 2021. It held $389 million in cash and equivalents.
Price action: CNDT shares are up 2.89% at $7.47 on the last check Friday.

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