TORONTO, March 23, 2021 /CNW/ - Dye & Durham
Limited ("Dye & Durham" or the "Company") (TSX:
DND), a leading provider of cloud-based software and technology
solutions designed to improve efficiency and increase productivity
for legal and business professionals, today announced that it has
amended its existing financing arrangement, increasing the
Company's total borrowing capacity to $700
million, comprised of a term loan of $245 million and a revolving facility of
$455 million. The entire financing
arrangement now matures on September 25,
2024.
"Combined with cash on hand, this amended credit facility
provides the Company with access to over $1.0 billion in capital to execute against
strategic opportunities in our acquisition pipeline," said
Matt Proud, Chief Executive Officer
of Dye & Durham. "We see a clear path to increasing the value
we deliver to customers as we execute against the next phase of our
strategic plan, of which acquisitions will be a critical
component."
Currently, $245 million of the
term loan is drawn, and the full amount of the $455 million revolving facility is available,
subject to the customary terms of the second amended and restated
credit agreement governing the financing arrangement, which will be
available on the Company's Sedar profile at sedar.com.
About Dye & Durham
Dye & Durham is a leading provider of cloud-based software
and technology solutions designed to improve efficiency and
increase productivity for legal and business professionals. Dye
& Durham provides critical information services and workflows,
which clients use to manage their process, information and
regulatory requirements. The Company has operations in Canada, the United
Kingdom, Ireland and
Australia, and has a strong
blue-chip customer base that includes law firms, financial service
institutions, and government organizations. Additional information
can be found at www.dyedurham.com.
Forward-looking Statements
This press release may contain forward-looking information
within the meaning of applicable securities laws, which reflects
the Company's current expectations regarding future events. In some
cases, but not necessarily in all cases, forward-looking statements
can be identified by the use of forward looking terminology such as
"plans", "targets", "expects" or "does not expect", "is expected",
"an opportunity exists", "is positioned", "estimates", "intends",
"assumes", "anticipates" or "does not anticipate" or "believes", or
variations of such words and phrases or state that certain actions,
events or results "may", "could", "would", "might", "will" or "will
be taken", "occur" or "be achieved". In addition, any statements
that refer to expectations, projections or other characterizations
of future events or circumstances contain forward-looking
statements. Forward-looking statements are not historical facts,
nor guarantees or assurances of future performance but instead
represent management's current beliefs, expectations, estimates and
projections regarding future events and operating performance and
include, without limitation, statements regarding the Company's
increased financial flexibility, the continued pursuit of its
growth strategy, its ability to capitalize on acquisition
opportunities, and continued success in executing its growth and
strategic plans.
Forward-looking information is based on a number of assumptions,
including without limitation that the Company's business will
continue to perform in a manner consistent with past practice, it
will effect its strategic plan as effected and that the increased
credit facility will have a positive impact on its financial
position. Forward-looking statements are not guarantees of future
performance and involve risks and uncertainties that are difficult
to control or predict, and are subject to a number of risks and
uncertainties, many of which are beyond the Company's control,
which could cause actual results and events to differ materially
from those that are disclosed in or implied by such forward-looking
information. Such risks and uncertainties include, but are not
limited to, the factors discussed under "Risk Factors" in the
prospectus supplement of the Company dated November 18, 2020 to the short-form base shelf
prospectus (including the documents incorporate therein) of the
Company dated November 18, 2020. Dye
& Durham does not undertake any obligation to update such
forward-looking information, whether as a result of new
information, future events or otherwise, except as expressly
required by applicable law.
SOURCE Dye & Durham Limited