NCR Atleos launches $1.05 billion term loan B at SOFR plus 475 bps

By Sara Rosenberg

New York, Sept. 13 – NCR Atleos LLC launched on Wednesday its $1.05 billion seven-year term loan B (B2/B+/BB+) with price talk of SOFR+10 basis points CSA plus 475 bps with a 0% floor and an original issue discount of 98, according to a market source.

The term loan has 101 soft call protection for six months.

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.

Commitments are due at 10 a.m. ET on Sept. 22, the source added.

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

Closing is expected in the fourth quarter.

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

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