Digital commerce for banks and retailers company Diebold Nixdorf has completed several transactions to strengthen its finances.
The buseinsss has issued approximately $1.1bn aggregate principal amount of senior secured notes consisting of $700m aggregate principal amount of senior secured botes due 2025 and approximately €350m aggregate principal amount of senior secured notes due 2025.
The winnings from these offerings will be used to repay a portion of the amounts outstanding under the company’s senior credit facility, including all amounts outstanding under the term loan A facility and term loan A-1 facility and approximately $194m of revolving credit loans, including all of the revolving credit loans due in December 2020, as well as all related fees and expenses.
“Our successful refinancing was made possible by our improving financial performance, the resiliency and enduring nature of our business and our constructive relationships with lenders,” said Jeffrey Rutherford, senior vice president and CFO at Diebold Nixdorf. “Demand for our senior secured notes was strong as both offerings were oversubscribed from a mix of new and existing investors.
“These actions significantly extend our debt maturities, while providing sufficient liquidity as we complete our DN Now transformation. Following this transaction, our capital allocation priorities remain centered on the completion of a majority of our transformation and restructuring spend by the end of 2020, de-levering the balance sheet and investing in future growth opportunities.”
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