Daily News: October 6, 2017

JPMorgan Chase Agents $125MM Unisys Facility


Unisys entered into a new revolving credit facility providing for loans and letters of credit up to an aggregate amount of $125 million.

The credit agreement includes an accordion feature allowing for an increase in the amount of the facility up to $150 million. The facility is secured by the assets of the company and the subsidiary guarantors, other than certain excluded assets, under a security agreement with JPMorgan Chase Bank as agent for the lenders under the new credit facility.

Availability under the credit facility is subject to a borrowing base calculated by reference to the company’s receivables. The credit agreement expires October 5, 2022, subject to a springing maturity (i) on the date that is 91 days prior to the maturity date of the company’s convertible notes due 2021 unless, on such date, certain conditions are met; or (ii) on the date that is 60 days prior to the maturity date of the company’s secured notes due 2022 unless, by such date, such secured notes have not been redeemed or refinanced.

Unisys is a global information technology company serving government, financial services and commercial markets.