CDK Global, Inc. Announces Extension of the Expiration Date of Its Tender Offers and Consent Solicitations

HOFFMAN ESTATES, Ill., May 27, 2022 (GLOBE NEWSWIRE) -- CDK Global, Inc. (Nasdaq: CDK) (“CDK” or the “Company”), a leading automotive retail technology company, today announced that it is extending the expiration date (as extended with respect to a Tender Offer, the “Expiration Date”) of each of its previously announced tender offers (the “Tender Offers”) relating to any and all of its outstanding 4.500% Senior Notes due 2024, the interest rate of which adjusts from time to time and is currently 5.000% (the “2024 Notes”), 4.875% Senior Notes due 2027 (the “2027 Notes”) and 5.250% Senior Notes due 2029 (the “2029 Notes” and, together with the 2024 Notes and the 2027 Notes, the “Notes”) pursuant to its Offer to Purchase and Consent Solicitation Statement dated April 20, 2022 (the “Offer to Purchase and Consent Solicitation Statement”). In conjunction with the Tender Offers, CDK solicited from holders of the Notes consents (the “Solicitations”) to the adoption of proposed amendments to the indentures governing the Notes (the “Indentures”) to, among other things, eliminate any obligation to make a Change of Control Offer (as defined in the applicable Indenture), substantially all of the other restrictive covenants and certain events of default and other provisions (the “Proposed Amendments”). The Expiration Date for each Tender Offer and Solicitation has been extended from 12:00 midnight, New York City time, at the end of the day on May 27, 2022 to 5:00 p.m., New York City time, on July 5, 2022.

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