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CNDT - Conduent to refinance its existing term loans and revolving facility
Conduent Incorporated
Conduent (CNDT) down 1% premarket, to replace its existing term loans, due in 2022 and 2023, with a new term loan due in 2028 and senior secured notes due in 2029, aggregate principal amount expected to be $1.5B.The company will also replace its existing revolving facility with a new $550M revolving facility.Earlier in May, the company exceeded Q1 estimates and expects FY2021 revenue in the range of $4.05B - $4.15B vs. consensus of $4.07B.