Diebold launches dual-currency offering of five-year secured notes; pricing expected Thursday

By Abigail W. Adams

Portland, Me., July 7 – Diebold Nixdorf, Inc. is marketing a dual-currency offering of five-year senior secured notes (B3/B-) that includes a $690 million tranche and €350 million tranche with pricing expected on Thursday, according to a market source.

The notes are non-callable for two years.

Initial price talk has the dollar-denominated notes coming in the 10% area and the euro-denominated tranche coming in the low 9% area, the source said.

J.P. Morgan Securities LLC, PNC Capital Markets LLC, BofA Securities Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and U.S. Bancorp Investments Inc. are the bookrunners for the Rule 144A and Regulation S offering.

Proceeds will be used to repay the full outstanding amount under the term loan A facility and term loan A-1 facility and approximately $194 million in revolving credit loans.

Diebold Nixdorf is a North Canton, Ohio-based financial and retail technology company.

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