Conduent Incorporated, a global technology-enabled operating partner, has announced the successful closing of a comprehensive $447 million refinancing transaction. The transaction extends the Company's $357 million revolving credit facility through May 2029 and adds $90 million in additional commitments from its existing bank lenders, including a $15 million letter of credit facility.
Conduent has closed a $447 million refinancing transaction.
The deal extends its $357 million revolving credit facility through May 2029 and adds $90 million in commitments, including a $15 million letter of credit facility.
Maturities were extended from October 2026 and May 2028 to May 2029.
The refinancing builds on Conduent's completed sale of its Public Transit business and the announced sale of its Tolling business.
Together, the portfolio actions and refinancing are expected to reduce the surety bond and letter-of-credit portfolio by approximately $550 million.
Lazard served as strategic advisor to Conduent.
"Deleveraging and de-risking are important priorities as we advance ASCEND 2026–28. We've extended our maturities, secured additional commitments from our banking partners and used divestiture proceeds to repay debt. Together with a meaningful reduction in our surety bond and letter-of-credit requirements, these actions strengthen our financial foundation and give us greater flexibility to invest in our core businesses and execute our strategy," said Harsha V. Agadi, Conduent President and Chief Executive Officer. "They also support our mission to be the premier AI-led and technology-enabled business process partner for Government and Commercial clients, helping them modernize operations, enhance customer and constituent experiences, and achieve measurable business outcomes. Our banking partners' commitment of new capital reflects their confidence in our strategy and our ability to execute ASCEND 2026–28."
The transaction establishes new revolving credit facilities with a group of existing bank lenders and rolls certain commitments under the existing revolver into the new facilities. With maturities extended to 2029, Conduent can continue investing in its core businesses and executing ASCEND 2026–28, the Company's plan to accelerate profitable growth by standardizing its operations, specializing in the core solutions where it can lead and win, and scaling its go-to-market capabilities. The Company's government and commercial programs, which millions of people rely on every day, continue without interruption.
About Conduent
Conduent is a global technology-enabled operating partner that helps businesses and governments simplify complexity, modernize mission-critical operations and deliver measurable outcomes through AI, automation, data and human expertise.
