Conduent borrows $150 million from its $750 million revolver

By Sarah Lizee

Olympia, Wash., April 14 – Conduent Inc. borrowed $150 million from its $750 million revolving credit line in late March as a precautionary measure, according to a press release.

The company said it continues to maintain a strong cash and liquidity position and the funds were immediately deposited into interest bearing accounts.

Conduent ended the first quarter with a cash balance of about $400 million.

The company has no significant debt maturities due until December 2022 and will consider options for an opportunistic refinancing within the next 18 months, Conduent said.

Conduent is a Florham Park, N.J.-based provider of digital platforms and services for businesses and governments.

© 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.