Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers Paydowns > Headlines for Altos Hornos de Mexico > News item |
Kyndryl repays $500 million term loan with note proceeds
By Marisa Wong
Los Angeles, Feb. 20 – Kyndryl Holdings, Inc. intends to immediately repay its outstanding $500 million term loan set to mature in November 2024 using proceeds from an offering of senior notes, according to a press release.
Kyndryl completed its $500 million offering of 6.35% senior notes due 2034 on Tuesday.
The interest rate on the new 10-year debt is lower than the current interest rate on the term loan, the company noted.
“This refinancing allows us to rebalance our debt maturities while maintaining leverage consistent with our investment-grade credit ratings,” chief financial officer David Wyshner commented in the press release.
Kyndryl is a New York-based IT infrastructure services provider.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.