Conduent completes debt refinancing; prepays term loan, renews revolver, adds $93M LC facility

CONDUENT Inc

Prepaid all outstanding Term A Loans; reduced revolver to ~$357M with two maturity tranches (2026 and 2028).
Added new $93M performance letter of credit facility maturing August 26, 2028.
SOFR-based revolver borrowing margin ranges 1.75%-3.00% depending on leverage; commitment fees 0.30%-0.55%.
CFO Giles Goodburn says refinancing strengthens financial foundation and supports growth strategy.
Leverage covenant: consolidated first lien net leverage ratio ≤ 4.50x; fixed charge coverage ≥ 2.50x.

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