Mr. Huss Hirji reports

DYE & DURHAM ANNOUNCES PROPOSED USD $500 MILLION SENIOR SECURED NOTES OFFERING

Dye & Durham Corp., a wholly owned subsidiary of Dye & Durham Ltd. (Holdings), has commenced an offering of $500-million (U.S.) in aggregate principal amount of new senior secured notes. The new senior secured notes offering is part of the company's refinancing transactions in conjunction with its previously announced new senior secured term loan B facility and revolving credit facility, which commenced marketing on March 20, 2024.

The timing of pricing and terms of the new senior secured notes are subject to market conditions and other factors. The company intends to use the net proceeds of the new senior secured notes offering together with the proceeds of the initial borrowings under the new senior secured credit facilities and cash on hand to (i) refinance the company's existing credit facilities; (ii) repurchase some or all of the company's 3.75 per cent convertible senior unsecured debentures due 2026; and (iii) finance working capital needs and for general corporate purposes.

The new senior secured notes will be guaranteed on a senior secured basis by Holdings and by all wholly owned subsidiaries of Holdings that guarantee the indebtedness under the new senior secured credit facilities.

We seek Safe Harbor.