CDK Global to pay down revolver borrowings with notes proceeds

By Sara Rosenberg

New York, May 2 – CDK Global Inc. plans to repay borrowings under its revolving credit facility using some of the proceeds from a $500 million senior notes offering, according to a market source.

Remaining notes proceeds will be used for general corporate purposes.

CDK is a Hoffman Estates, Ill.-based provider of integrated information technology and digital marketing solutions to the automotive retail and adjacent industries.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.