NCR Corporation (NYSE: NCR) has announced the pricing of an offering of USD 500 million aggregate principal amount of 5.750% senior notes due 2027 (the “2027 Notes”) and USD 500 million aggregate principal amount of 6.125% senior notes due 2029 (the “2029 Notes” and, together with the 2027 Notes, the “Notes”) at a price of 100% of the principal amount of each series of Notes, which resulted in gross proceeds of USD 1,000 million, the company said.
The Notes will be general unsecured senior obligations of the company and will be guaranteed by the company´s wholly owned subsidiary, NCR International, Inc., a Delaware corporation.
The offering is expected to close on August 21, 2019, subject to customary closing conditions.
The company intends to use the net proceeds from the offering, together with initial borrowings under the new senior secured credit facilities, to redeem or repurchase all of its outstanding USD 500 million aggregate principal amount of 4.625% senior notes due 2021, with the remainder to repay outstanding indebtedness under the company´s existing senior secured credit facilities and for general corporate purposes.
NCR is a software- and services-led enterprise provider in the financial, retail, hospitality, telecom and technology industries. NCR is headquartered in Atlanta, Georgia, with 34,000 employees and does business in 180 countries.