TORONTO, March 20, 2024 /CNW/ - Dye & Durham Limited ("Dye & Durham" or "Holdings"), (TSX: DND) today announced that Dye & Durham Corporation (the "Company"), a wholly-owned subsidiary of Holdings, commenced the marketing of a new senior secured Term Loan B facility and revolving credit facility (the "New Senior Secured Credit Facilities"). In conjunction with the New Senior Secured Credit Facilities, and subject to market and other conditions, the Company plans to launch the marketing of additional new secured debt (the "Additional Secured Debt", and together with the New Senior Secured Credit Facilities, the "Refinancing Transactions"). The Company intends to use the initial borrowings under the New Senior Secured Credit Facilities, together with the net proceeds of any Additional Secured Debt raised and cash on hand, to: (i) refinance the Company's existing credit facilities, (ii) repurchase some or all of the Company's 3.75% convertible senior unsecured debentures due 2026, and (iii) finance working capital needs and for general corporate purposes. The foregoing description and any other information regarding the potential of the Company incurring secured debt is included herein solely for informational purposes, and this press release is not an offer to sell any secured debt.