Conduent closes $447 million refinancing with existing bank lenders
CNDT•Conduent closed a $447 million refinancing with existing bank lenders. The $357 million revolving credit facility now matures in May 2029, and the refinancing and divestitures are expected to reduce its surety bond and letter-of-credit portfolio by about $550 million upon completion of the Tolling sale.
1. Refinancing details
Conduent closed a $447 million refinancing transaction with existing bank lenders. The $357 million revolving credit facility now matures in May 2029, extending maturities from October 2026 and May 2028; lenders also provided $90 million in additional commitments, including a $15 million letter-of-credit facility. The refinancing and divestitures are expected to reduce the surety bond and letter-of-credit portfolio by approximately $550 million upon completion of the Tolling sale.
