07:49 AM EDT, 09/24/2024 (MT Newswires) -- Dye & Durham ( DYNDF ) said Tuesday that it will make an early repayment of $20.3 million its US$350 million aggregate principal amount senior secured term loan B facility on Sept. 26.

The provider of practice management in the legal industry said the repayment is about four times the minimum annual prepayment requirement under the terms of the facility.

Dye & Durham ( DYNDF ) said the early debt repayment is possible because of the company's "robust business performance" that generated strong levered free cash flow.

"We are delivering on our commitment to investors to continue to reduce our net leverage ratio," Chief Executive Matthew Proud said. "Our strong business performance and disciplined execution against our strategy are driving tangible improvements to our balance sheet."