- Diebold Nixdorf ( NYSE: DBD ) rose on the news that it is looking to refinance certain debt with near-term maturities and of updated financial guidance.
- The refinancing, for which DBD has entered into an agreement with key financial stakeholders, will provide the company with $400M in new capital.
- The transaction support agreement was signed with the holders of over a majority of the company's term loans and certain notes.
- Additionally, the company has revised its FY22 guidance for revenue and adjusted EBITDA.
- The prior revenue guidance was in the range of $3.55B - $3.75B, and the current guidance is ~$3.50B (vs. consensus of $3.62B). For FY23, the company estimates revenue to be at ~$3.86B (vs. consensus of $3.73B) and FY24 revenue to be at ~$3.97B (vs. consensus of $3.85B).
- The prior adjusted EBITDA guidance was in the range of $320M - $350M, and the current guidance is ~$293M. For FY23, the guidance is ~$470M, and for FY24, the guidance is ~$540M.
- DBD shares were trading +14.93% pre-market.
- Source: Press Release
For further details see:
Diebold Nixdorf to refinance certain debt, updates financial guidance