NCR Corporation Announces Offering of Senior Notes

NCR Corporation (NYSE: NCR) (the "Companya??) announced today its intention to offer, subject to market and customary conditions, senior notes due 2029 (the "2029 Notesa??) and senior notes due 2031 (the "2031 Notesa?? and, together with the 2029 Notes, the "Notesa??) in an aggregate principal amount of $1.0 billion, in connection with its previously announced acquisition (the "Cardtronics Acquisitiona??) of Cardtronics plc, a public limited company incorporated in England and Wales ("Cardtronicsa??). The Notes will be general unsecured senior obligations of the Company and will be initially guaranteed by the Companya??s wholly-owned subsidiary, NCR International, Inc., a Delaware corporation.

The Company intends to use the net proceeds from the offering, together with borrowings under its senior secured credit facilities and its trade receivables securitization facility and/or cash on hand, to finance the consideration payable in connection with the Cardtronics Acquisition, to repay certain indebtedness of Cardtronics and to pay related fees and expenses. The closing of this offering is not conditioned on the closing of the Cardtronics Acquisition which, if completed, will occur subsequent to the closing of this offering. The proceeds of the offering will be held in escrow until satisfaction of the escrow release conditions.

If such escrow release conditions are not satisfied on or prior to the earlier of November 1, 2021 and the date on which the Company notifies the escrow agent and the trustee in writing that the Company has determined that the escrow release conditions will not be satisfied, then the 2029 Notes will be subject to a special mandatory redemption. The 2031 Notes are not subject to special mandatory redemption; accordingly, if the Cardtronics Acquisition is not consummated, the net proceeds of such notes will be used for general corporate purposes.

The Notes and the related subsidiary guarantee will be offered in the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Acta??), and outside the United States pursuant to Regulation S under the Securities Act. The Notes and the related subsidiary guarantee have not been registered under the Securities Act and may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
See also:
Leave a comment
  • Latest
  • Read
  • Commented
Calendar Content
«    Декабрь 2022    »