Diebold Nixdorf amended and extended the vast majority of its $787 million revolving credit facility and term A loans from December 23, 2020 to April 30, 2022.
According to a related 8-K filing, JPMorgan served as administrative agent for the transaction.
“Our constructive conversations with lenders and improved financial performance in the first half of 2019 were key elements of this successful refinancing. We received strong support from our existing lenders and demand for the term loan A was oversubscribed. Extending these maturities provides the company with both the time and liquidity needed to achieve our 2021 DN Now targets. Additionally, our 2019 outlook for cash interest expense remains at approximately $190 million,” said Jeffrey Rutherford, Diebold Nixdorf senior vice president and chief financial officer.
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Following these transactions, total company indebtedness remains materially unchanged since June 30, 2019. The company’s capital structure now includes revolving credit facilities with $343.8 million maturing on April 30, 2022 and $68.8 million due on December 23, 2020. Additionally, the company raised $116.7 million of new capital as part of the term loan A extension and used these proceeds to partially pay down existing lenders while maintaining overall liquidity. The company’s term loan A is now $374.3 million with the full amount due on April 30, 2022.
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Diebold Nixdorf automates, digitizes and transforms the way people bank and shop.
