Diebold Nixdorf secured a capital commitment for $650 million from two leading institutional lenders and has launched a process to amend its existing credit agreement. The company expects to complete these activities over the coming days.

Under the terms of the commitment, which would be implemented pursuant to a forthcoming amendment to its existing senior secured credit agreement, Diebold Nixdorf is expected to receive $650 million from a newly-established term loan A-1 due August 2022. JPMorgan Chase will serve as the sole and exclusive administrative agent for the company.

The amendment to the credit agreement, including the term loan A-1 Facility, remains subject to the satisfaction of certain conditions, including obtaining necessary lender approvals.

Diebold Nixdorf delivers technology to support worldwide consumer banking services, including ATMs.