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CDK Global prices debt offering

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CDK Global prices debt offering

CDK Global priced $500 million aggregate principal amount of its 5.875% senior notes due June 15, 2026, at an issue price of 100%.

The offering is expected to close on June 18.

The company intends to use the net proceeds for general corporate purposes, which may include share repurchases, dividends, acquisitions, debt repayments, and working capital and capital expenditures.

J.P. Morgan, Bank of America Merrill Lynch, Morgan Stanley, MUFG, US Bancorp and Wells Fargo Securities are acting as joint book-running managers for the offering.