Kyndryl Completes $500 Million Offering of Senior Notes, Its First Debt Issuance as an Independent Company
NEW YORK, Feb. 20, 2024 /PRNewswire/ -- Kyndryl Holdings, Inc. (NYSE: KD), the world's largest IT infrastructure services provider, today announced the completion of an offering of $500 million of 6.350% Senior Notes due 2034.
Kyndryl Completes $500 Million Offering of Senior Notes, Its First Debt Issuance as an Independent Company
The Company intends to use the proceeds from this offering to immediately repay the Company's outstanding $500 million term loan, which was scheduled to mature in November 2024. The interest rate on the new ten-year debt is lower than the current interest rate on the term loan.
"We're pleased to have successfully closed on our first debt issuance since becoming an independent company and with the strong interest our offering garnered in the capital markets. This refinancing allows us to rebalance our debt maturities while maintaining leverage consistent with our investment-grade credit ratings," said Kyndryl Chief Financial Officer David Wyshner.
About Kyndryl
Kyndryl (NYSE: KD) is the world's largest IT infrastructure services provider, serving thousands of enterprise customers in more than 60 countries. The Company designs, builds, manages and modernizes the complex, mission-critical information systems that the world depends on every day. For more information, visit www.kyndryl.com.
U.S.-based tech startup Iozera, in collaboration with the Government of Morocco, announces an initiative set to transform the AI industry. Iozera has announced the signing of a Memorandum of Understanding (MOU) for the establishment of a pioneering...
UroGen Pharma Ltd. , a biotech company dedicated to developing and commercializing novel solutions that treat urothelial and specialty cancers, today highlights the results of a sub-analysis from a real-world patient cohort review of JELMYTO...
With a remarkable achievement of 81.556 billion yuan in operating revenue, marking an 11.74% increase from the previous year, and a net profit attributable to shareholders of 7.039 billion yuan, soaring by 27.21%, JA Solar hit historic highs in both...
Leading research and experience management firm Sogolytics will showcase innovations in HR and employee experience at UNLEASH America next week.
"With such a rapid evolution in the world of HR tech, we're seeing some major changes in how employers...