Kyndryl Holdings Incorporation (KD) has released an update.
Kyndryl Holdings, Inc. has announced a financial move that’s likely to catch the eye of market watchers: the company has entered into an agreement to sell $500 million in Senior Notes with an interest rate of 6.350%, maturing in 2034. These notes, which are unsecured and rank equally with other senior unsecured debts, will help Kyndryl repay its existing $500 million loan. Moreover, investors should note that these notes come with certain covenants restricting the company’s transactions, including incurring liens and sale and leaseback deals, and require a repurchase offer in the event of a control change.
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