{"id":4584,"date":"2024-09-24T07:00:43","date_gmt":"2024-09-24T11:00:43","guid":{"rendered":"https:\/\/dyedurham.com\/?p=4584"},"modified":"2026-01-22T03:10:48","modified_gmt":"2026-01-22T08:10:48","slug":"dye-durham-announces-early-debt-repayment-of-20-3-million-as-a-result-of-strong-free-cash-flow-generation","status":"publish","type":"post","link":"https:\/\/dyedurham.com\/dye-durham-announces-early-debt-repayment-of-20-3-million-as-a-result-of-strong-free-cash-flow-generation\/","title":{"rendered":"Dye &#038; Durham Announces Early Debt Repayment of $20.3 Million as a Result of Strong Free Cash Flow Generation"},"content":{"rendered":"<ul>\n<li>Company to repay $20.3 million of principal outstanding on senior secured Term Loan B Facility<\/li>\n<li>Management is strongly committed to reducing its net leverage ratio<\/li>\n<\/ul>\n<p><strong>Toronto, Ontario \u2013 September 24, 2024<\/strong> \u2013 Dye &amp; Durham Limited (\u201c<strong>Dye &amp; Durham<\/strong>\u201d or the \u201c<strong>Company<\/strong>\u201d) (TSX: DND), one of the world\u2019s largest providers of cloud-based legal practice management software, today announced that it will make an early repayment of CAD $20.3 million (USD $15 million) on the Company\u2019s\u00a0USD\u00a0$350 million\u00a0aggregate principal amount senior secured Term Loan B Facility (the \u201cTerm Loan Facility\u201d), on September 26, 2024.<\/p>\n<p>\u201cWe are delivering on our commitment to investors to continue to reduce our net leverage ratio. Our strong business performance and disciplined execution against our strategy are driving tangible improvements to our balance sheet,\u201d said Matthew Proud, Dye &amp; Durham\u2019s CEO.<\/p>\n<p>The CAD $20.3 million repayment is approximately four times the minimum annual prepayment requirement under the terms of the Term Loan Facility. The early repayment of debt is the result of the Company\u2019s robust business performance which resulted in strong levered free cash flow generation.<\/p>\n<p><strong>About Dye &amp; Durham<\/strong><\/p>\n<p>Dye &amp; Durham Limited provides premier practice management solutions empowering legal professionals every day, delivers vital data insights to support critical corporate and property transactions and enables the essential payments infrastructure trusted by government and financial institutions. The company has operations in Canada, the United Kingdom, Ireland, Australia and South Africa.<\/p>\n<p>Additional information can be found at <a href=\"http:\/\/www.dyedurham.com\">www.dyedurham.com<\/a>.<\/p>\n<p><strong>Forward-looking Statements<\/strong><\/p>\n<p>This press release may contain forward-looking information and forward-looking statements within the meaning of applicable securities laws, which reflects the Company\u2019s current expectations regarding future events, including with respect to the timing and completion of the Offer, the intentions of the Company\u2019s directors and officers and debenture holders with respect to tendering to the Offer, and the Company\u2019s financial outlook and business strategy, including its debt reduction strategy and products and services. In some cases, but not necessarily in all cases, forward-looking statements can be identified by the use of forward looking terminology such as \u201cplans\u201d, \u201ctargets\u201d, \u201cexpects\u201d or \u201cdoes not expect\u201d, \u201cis expected\u201d, \u201can opportunity exists\u201d, \u201cis positioned\u201d, \u201cestimates\u201d, \u201cintends\u201d, \u201cassumes\u201d, \u201canticipates\u201d or \u201cdoes not anticipate\u201d or \u201cbelieves\u201d, or variations of such words and phrases or state that certain actions, events or results \u201cmay\u201d, \u201ccould\u201d, \u201cwould\u201d, \u201cmight\u201d, \u201cwill\u201d or \u201cwill be taken\u201d, \u201coccur\u201d or \u201cbe achieved\u201d. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking statements. Forward-looking statements are not historical facts, nor guarantees or assurances of future performance but instead represent management\u2019s current beliefs, expectations, estimates and projections regarding future events and operating performance.<\/p>\n<p>Specifically, statements regarding Dye &amp; Durham\u2019s expectations of future results, performance, prospects, the markets in which we operate, or about any future intention with regard to its business, acquisition strategies and debt reduction strategy are forward-looking information. The foregoing demonstrates Dye &amp; Durham\u2019s objectives, which are not forecasts or estimates of its financial position, but are based on the implementation of its strategic goals, growth prospectus, and growth initiatives. The forward-looking information is based on management\u2019s opinions, estimates and assumptions, including, but not limited to: (i) Dye &amp; Durham\u2019s results of operations continuing as expected, (ii) the Company continuing to effectively execute against its key strategic growth priorities, (iii) the Company continuing to retain and grow its existing customer base and market share, (iv) the Company being able to take advantage of future prospects and opportunities, and realize on synergies, including with respect of acquisitions, (v) there being no changes in legislative or regulatory matters that negatively impact the Company\u2019s business, (vi) current tax laws remaining in effect and not being materially changed, (vii) economic conditions remaining relatively stable throughout the period, (vii) the industries Dye &amp; Durham operates in continuing to grow consistent with past experience, (ix) the seasonal trends in real estate transaction volume continuing as expected, (x) the Company\u2019s expectations regarding its debt reduction strategy being met and (x)\u00a0 those assumptions described under the heading \u201cCaution Regarding Forward-Looking Information\u201d in the Company\u2019s Management\u2019s Discussion and Analysis for the period ended June 30, 2024. While these opinions, estimates and assumptions are considered by Dye &amp; Durham to be appropriate and reasonable in the circumstances as of the date of this press release, they are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, levels of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information.<\/p>\n<p>The forward looking information is subject to significant risks including, without limitation: that the Company will be unable to effectively execute against its key strategic growth priorities, including in respect of acquisitions; the Company will be unable to continue to retain and grow its existing customer base and market share; risks related to the Company\u2019s business and financial position; that Dye &amp; Durham may not be able to accurately predict its rate of growth and profitability; risks related to economic and political uncertainty; income tax related risks; and those risk factors discussed in greater detail under the \u201cRisk Factors\u201d section of the Company\u2019s most recent annual information form and under the heading \u201cRisks and Uncertainties\u201d in the Company\u2019s most recent Management\u2019s Discussion and Analysis, which are available under Dye &amp; Durham\u2019s profile on SEDAR+ at www.sedarplus.ca.\u00a0 Many of these risks are beyond the Company\u2019s control.<\/p>\n<p>If any of these risks or uncertainties materialize, or if the opinions, estimates or assumptions underlying the forward-looking information prove incorrect, actual results or future events might vary materially from those anticipated in the forward-looking information. Although the Company has attempted to identify important risk factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other risk factors not presently known to the Company or that the Company presently believes are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking information.<\/p>\n<p>Although the Company bases these forward-looking statements on assumptions that it believes are reasonable when made, the Company cautions investors that forward-looking statements are not guarantees of future performance and that its actual results of operations, financial condition and liquidity and the development of the industry in which it operates may differ materially from those made in or suggested by the forward-looking statements contained in this press release. In addition, even if the Company\u2019s results of operations, financial condition and liquidity and the development of the industry in which it operates are consistent with the forward-looking statements contained in this press release, those results of developments may not be indicative of results or developments in subsequent periods.<\/p>\n<p>There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. No forward-looking statement is a guarantee of future results. Accordingly, you should not place undue reliance on forward-looking information, which speaks only as of the date made. The forward-looking information contained in this press release represents Dye &amp; Durham\u2019s expectations as of the date specified herein, and are subject to change after such date. However, the Company disclaims any intention or obligation or undertaking to update or revise any forward-looking information or to publicly announce the results of any revisions to any of those statements, whether as a result of new information, future events or otherwise, except as required under applicable securities laws. Comparisons of results for current and any prior periods are not intended to express any future trends or indications of future performance, unless specifically expressed as such, and should only be viewed as historical data.<\/p>\n<p>All of the forward-looking information contained in this press release is expressly qualified by the foregoing cautionary statements.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>For Further Information:<\/strong><\/p>\n<p>Huss Hirji<br \/>\nVice President Investor Relations<br \/>\nPhone: (647) 323-7193<br \/>\nE-mail: huss.hirji@dyedurham.com<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Company to repay $20.3 million of principal outstanding on senior secured Term Loan B Facility Management is strongly committed to reducing its net leverage ratio Toronto, Ontario \u2013 September 24,&#8230;<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","inline_featured_image":false,"footnotes":""},"categories":[1],"class_list":["post-4584","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Early Debt Repayment ($20.3M) | Dye &amp; 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