2023-03-21 16:22:56 ET
- Diebold Nixdorf ( NYSE: DBD ) stock jumped 16% in Tuesday after-hours trading after the maker of bank ATMs and kiosk technlogies amended its asset-based credit facility to add a $55M term loan to facilitate its near-term operating priorities.
- The new first-in-last out (FILO) term loan tranche is in addition to its existing $250M non-FILO asset-based (ABL) credit faclitity.
- Additionally, Diebold Nixdorf's ( DBD ) ABL lenders agreed to certain other modifications and waivers to the ABL facility, allowing them to continue to work together to develop an updated borrowing framework.
- "We will continue to partner with our lenders to develop long-term improvements to our capital structure which will better support our operating model and the cycles of our business," said DBD Chairman, President and CEO Octavio Marquez.
- Last Friday, the company's stock tumbled 59% after the company described "near-term pressure on liquidity" in a lender presentation.
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Diebold Nixdorf stock perks up after obtaining $55M term loan to aid liquidity