Legal Software Firm KLDiscovery Completes Debt Restructuring

KLDiscovery Inc. has restructured its debt and raised new financing, according to a Wednesday statement.

• The company completed a transaction that canceled its outstanding convertible notes and exchanged them for about 96% of the company’s common equity, and extended the maturity of a term loan to 2027
  • The company has almost $330 million of debt outstanding, according to data compiled by Bloomberg
• The company also received $50 million of second-lien secured financing which was used to repay a portion of the first-lien secured debt, a portion of the amounts outstanding under a revolver and pay transaction expenses
• KLDiscovery provides software ...