Dye & Durham Increases Fixed-Rate Debt and Debt Repurchase Program

By Adriano Marchese

Dye & Durham, a Canadian cloud-based software company, has announced significant developments in its financial strategy. The company has entered into a 250 million Canadian dollar interest-rate swap in order to manage any potential exposure to interest rate fluctuations. As a result, Dye & Durham has increased the portion of its fixed-rate debt from 24% to 41%.

The decision to increase fixed-rate debt comes after the company faced pressure following its announcement of increased investments in mergers and acquisitions. However, Dye & Durham quickly reassessed its approach, launching a strategic review of its non-core assets. This review aims to expedite the company’s plans to reduce its leverage ratio.

Chief Executive Matthew Proud stated that the review is progressing well, but the company continues to take important steps to strengthen its balance sheet. As part of this effort, Dye & Durham has increased its substantial issuer bid to repurchase up to C$100 million of its debentures.

Overall, these actions showcase Dye & Durham’s commitment to sound financial management and its dedication to reducing debt levels. The company remains focused on optimizing its financial position and continuing to provide top-notch cloud-based software services.

To ensure the best user experience and enhanced financial stability, Dye & Durham will always prioritize strategic financial moves and maintain a robust balance sheet.