{"id":39997,"date":"2023-07-24T22:04:26","date_gmt":"2023-07-25T02:04:26","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/dye-durham-plans-c52-mln-convertible-debenture-buyback\/"},"modified":"2023-07-24T22:04:28","modified_gmt":"2023-07-25T02:04:28","slug":"dye-durham-plans-c52-mln-convertible-debenture-buyback","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=39997","title":{"rendered":"Dye &#038; Durham Plans C$52 Mln Convertible Debenture Buyback"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"MW-BT-CO-20230724-703134\" role=\"document\">\n<p>By Robb M. Stewart<\/p>\n<pre><\/pre>\n<p>Dye &amp; Durham has moved to pay down up to 52 million Canadian dollars ($39.3 million) of its debt as part of an effort to bolster its balance sheet over time, offering to buy back issued and outstanding 3.75% convertible senior secured debentures due March 1, 2026.<\/p>\n<div class=\"paywall\">\n<p>The offering will be funded from cash on hand and is above the debt cutting Dye &amp; Durham has said it plans using the proceeds from the sale of its TM Group subsidiary in the U.K. to German alternative investment firm Aurelius.<\/p>\n<p>The offer is expected to proceed by way of a modified Dutch auction, which will allow debenture holders who choose to participate to select the price, within a range, to tender their debentures. Dye &amp; Durham said it is making the offer at between C$500 and C$650 per C$1,000 of debenture face value.<\/p>\n<p>Last week, the provider of cloud-based legal practice management software said it surpassed C$100 million in annual recurring revenue, which it regards as a key marker of scale that positions it for growth.<\/p>\n<pre><\/pre>\n<p>Write to Robb M. Stewart at robb.stewart@wsj.com<\/p>\n<pre><\/pre>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/dye-durham-plans-c-52-mln-convertible-debenture-buyback-80091d8e?mod=investing\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Robb M. Stewart Dye &amp; Durham has moved to pay down up to 52 million Canadian dollars ($39.3 million) of its debt as part of an effort to bolster its balance sheet over time, offering to buy back issued and outstanding 3.75% convertible senior secured debentures due March 1, 2026. The offering will be [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1898,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-39997","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Dye &amp; Durham Plans C$52 Mln Convertible Debenture Buyback | iFintechWorld<\/title>\n<meta name=\"description\" content=\"By Robb M. Stewart Dye &amp; Durham has moved to pay down up to 52 million Canadian dollars ($39.3 million) of its debt as part of an effort to bolster\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=39997\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dye &amp; Durham Plans C$52 Mln Convertible Debenture Buyback | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"By Robb M. 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