CDK Global, Inc. Announces Early Results of Its Tender Offer and Consent Solicitation for Its 2024 Notes

HOFFMAN ESTATES, Ill., May 09, 2022 (GLOBE NEWSWIRE) -- CDK Global, Inc. (Nasdaq: CDK) (“CDK” or the “Company”), a leading automotive retail technology company, today announced the early results of its previously announced tender offer (the “Tender Offer”) relating to any and all of its issued and 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”) 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 Offer, CDK solicited from holders of the 2024 Notes consents (the “Solicitation”) to the adoption of proposed amendments to the indenture governing the 2024 Notes (the “Indenture”) to, among other things, eliminate any obligation to make a Change of Control Offer (as defined in the Indenture), substantially all of the other restrictive covenants and certain events of default and other provisions (the “Proposed Amendments”).

Read more at globenewswire.com