08:06 AM EDT, 04/05/2024 (MT Newswires) -- Dye & Durham Ltd. ( DYNDF ) , provider of cloud-based legal practice management software, on Friday priced and allocated US$350 million aggregate principal amount of its senior secured term Loan B facility. It will also enter into its C$105 million revolving credit facility and price US$555 million aggregate principal amount of its 8.625% new senior secured notes due 2029.

The company intends to use the net proceeds of the offering of the new senior secured notes together with the proceeds of the initial borrowings under the new senior secured credit facilities and cash on hand to (i) refinance its existing credit facilities, (ii) repurchase some or all of Dye & Durham's ( DYNDF ) 3.75% convertible senior unsecured debentures due 2026 and (iii) finance working capital needs and for general corporate purposes.

A statement noted refinancing of the company's existing credit facilities addresses the risk that the existing credit facilities' maturity would have accelerated in the event that any of Dye & Durham's ( DYNDF ) 2026 Debentures remained outstanding as of September 30, 2025.