Cerence Will Save Millions After Debt Refinancing
Last month, Cerence (NASDAQ: CRNC) pulled the trigger on part of its plan to restructure the bulk of its debt by conducting a convertible senior note offering to raise capital. In addition to issuing that paper, Cerence has also negotiated a new credit facility to refinance a previous credit facility, further reducing interest costs.
Here's how much the company stands to save.
Cerence's AI technology powers automotive infotainment systems and virtual assistants. Image source: Getty Images.
Source Fool.com
