NCR Atleos to launch $1.05 billion term loan B on Wednesday

By Sara Rosenberg

New York, Sept. 12 – NCR Atleos LLC is set to hold a lender call at 12:30 p.m. ET on Wednesday to launch a $1.05 billion seven-year term loan B, according to a market source.

BofA Securities Inc., JPMorgan Chase Bank, Goldman Sachs Bank USA, RBC Capital Markets, Wells Fargo Securities LLC, Truist Securities, MUFG, PNC Capital Markets, Capital One, TD Securities (USA) LLC, Fifth Third, US Bank, Regions, M&T and Citigroup Global Markets Inc. are the arrangers on the deal.

The term loan has 101 soft call protection for six months, the source said.

Expected term loan ratings are B2/B+/BB-.

Proceeds will be used with $1.05 billion of other secured debt to fund a cash distribution to NCR Corp. in connection with the spin-off of NCR Atleos, which may be used to repay a portion of existing debt, pay fees and expenses related to the spin-off, and for general corporate purposes.

Closing is expected in the fourth quarter.

Atlanta-based NCR Atleos is a financial technology company providing self-directed banking solutions through automated teller machines and interactive teller machines.

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