NCR - NCR Corporation and NCR Atleos LLC announces offering of senior secured notes

2023-09-18 07:41:27 ET

• NCR Corporation ( NYSE: NCR ) and NCR Atleos, LLC unit, NCR ATM Escrow to offer $1,050 million aggregate principal amount of senior secured notes due 2030..
• The notes are being offered in connection with NCR’s previously announced plan to separate into two independent companies
• The notes will be jointly and severally and unconditionally guaranteed on a senior secured basis by certain of NCR Atleos’s domestic subsidiaries that will also guarantee its new senior secured credit facilities.
• The closing of this offering is not conditioned on the closing of the spin-off.
• The gross proceeds of the offering will be held in escrow pending consummation of the spin-off.
• NCR Atleos intends to use the net proceeds from the offering, together with borrowings under its new senior secured credit facilities and/or cash on hand to finance the payment of a cash distribution to NCR, which NCR intends to use to repay a portion of its existing indebtedness and for general corporate purposes.
• Source: Press Release

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