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.
Contacts:
Investor Contact
Lori
Chaitman
lori.chaitman@kyndryl.com
Media Contact
Ed
Barbini
edward.barbini@kyndryl.com
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SOURCE Kyndryl