NCR Voyix Announces Reduction of $1.84 Billion of Debt and Other Obligations and Termination of Trade Receivables Facility
A summary of the amounts repaid from proceeds from the Digital Banking Sale is included in the table below (in millions):
|
Amount Outstanding
|
|
Amount Repaid |
|
Amount Outstanding
|
|||
Senior secured credit facility: |
|
|
|
|
|
|||
Term loan facility1 |
$ |
192.5 |
|
$ |
192.5 |
|
$ |
— |
Revolving credit facility2 |
|
200.0 |
|
|
200.0 |
|
|
— |
Tender offer for senior notes: |
|
|
|
|
|
|||
5.250% Senior Notes due 20303 |
|
450.0 |
|
|
397.9 |
|
|
52.1 |
5.125% Senior Notes due 20293 |
|
1,200.0 |
|
|
797.1 |
|
|
402.9 |
5.000% Senior Notes due 2028 |
|
650.0 |
|
|
— |
|
|
650.0 |
Total Indebtedness: |
|
2,692.5 |
|
|
1,587.5 |
|
|
1,105.0 |
Trade receivables facility4: |
|
251.5 |
|
|
251.5 |
|
|
— |
Total: |
$ |
2,944.0 |
|
$ |
1,839.0 |
|
$ |
1,105.0 |
1 The Company paid an additional |
2 The Company paid an additional |
3 Amounts shown were used to settle the Company’s previously announced tender offer and are exclusive of accrued and unpaid interest. Pursuant to the terms of the tender offer the Company purchased |
4 The Company paid an additional |
“The net proceeds from the sale of the Digital Banking business have greatly strengthened the balance sheet, while reducing our annual interest expense and financing costs, thus improving the Company’s financial position to drive greater shareholder value,” stated
About NCR Voyix
Forward Looking Statements
This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “target,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” or “continue” or the negative of these terms or other comparable terminology. These statements include, but are not limited to, express or implied forward-looking statements relating to our expectations regarding the Company's business, performance and financial condition following the debt pay down; any projections of earnings, revenue or other financial items or future financial position or sources of financing; any statements of the plans, strategies and objectives of management for future operations or business strategy; any statements regarding future economic conditions or performance. These statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results, levels of activity, performance or achievements to differ materially from those contemplated in these forward-looking statements. Investors and others are cautioned not to place undue reliance on forward-looking statements. There are a number of important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including factors relating to: the Company’s indebtedness and other payment obligations, including the need to generate sufficient cash flows to fund operations; the impact of changes in the Company’s credit ratings or future increases in interest rates; the Company's ability to achieve some or all of the expected benefits of the sale of Digital Banking; and the other risks and uncertainties further described in the “Risk Factors” section of the Company’s most recent Annual Report on Form 10-K, and in the Company’s subsequent Quarterly Reports on Form 10-Q, as well as in the Company’s other reports filed with or furnished to the
View source version on businesswire.com: https://www.businesswire.com/news/home/20240930340046/en/
News Media Contact
media.relations@ncrvoyix.com
Investor Contact
alan.katz@ncrvoyix.com
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