Blue Yonder Announces Closing of Senior Secured Notes Offering
Blue Yonder Holding, Inc. ("Blue Yonder") today announced that its wholly owned subsidiaries, BY Crown Parent, LLC ("BY Crown") and BY Bond Finance, Inc. (together with BY Crown, "Blue Yonder"), closed their offering of $750.0 million aggregate principal amount of senior secured notes (the "Notes") in a private placement. The Notes bear interest at the rate of 4.250% per year and are due in 2026.
Blue Yonder also announced that BY Crown amended its credit agreement in order to extend the maturity date of a portion of its commitments under its revolving credit facility and increase the commitments thereunder and in order to extend the maturity date of all of its outstanding term loans thereunder.
Blue Yonder intends to use the net proceeds from the Notes offering to repay approximately $600.0 million of BY Crown's outstanding term loan borrowings and approximately $35.0 million of outstanding borrowings under BY Crown's revolving credit facility and to use the remaining net proceeds for general corporate purposes, which may include repayment of additional indebtedness, potential acquisitions and other purposes.
The Notes have not been and will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securiies laws. The Notes may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The Notes will be offered, by the initial purchasers, only to persons reasonably believed to be "qualified institutional buyers" in reliance on the exemption from registration provided by Rule 144A under the Securities Act and to certain non-U.S. persons in offshore transactions in reliance on Regulation S.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful.
About Blue Yonder
Blue Yonder (formerly JDA Software) provides seamless, friction-free commerce, empowering every organization and person on the planet to fulfill their potential. Blue Yonder's machine learning-driven digital fulfillment platform enables clients to deliver to their customers when, how and where they want it. Applying over 35 years of domain expertise, contextual intelligence and data science, Blue Yonder is helping more than 3,000 of the world's leading manufacturers, retailers and logistics companies create more autonomous, sustainable and profitable operations.
"Blue Yonder" is a trademark or registered trademark of Blue Yonder Group, Inc. Any trade, product or service name referenced in this document using the name "Blue Yonder" is a trademark and/or property of Blue Yonder Group, Inc.
This press release contains forward-looking statements that reflect our current views with respect to, among other things, our operations and financial performance. Forward-looking statements include all statements that are not historical facts. In some cases, you can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "could," "seeks," "predicts," "intends," "trends," "plans," "estimates," "anticipates" or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. We undertake no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by law.