Diebold Nixdorf secures temporary waiver of leverage covenant; creditor support for restructuring grows to 97%

DIEBOLD NIXDORF, Inc

Limited waiver of total net leverage ratio covenant for Q3 2022, effective through December 31, 2022.
Lenders temporarily waive defaults from non-compliance and related representation inaccuracies.
Transaction Support Agreement creditor participation: 97% of term loans (from 79%), 83% of 2024 senior notes (from 59%).
Revolving credit lenders not required to fund new loans or issue letters of credit during waiver period.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

DIEBOLD NIXDORF, Inc amended Limited Waiver with JPMorgan Chase Bank, N.A., as administrative agent, and the lenders party thereto (effective 2022-10-31).

Action: amendment
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent, and the lenders party thereto
Effective: 2022-10-31

Exact text from the filing

On October 31, 2022, the Company entered into a limited waiver (the “Limited Waiver”) in connection with the Existing Credit Agreement, among the Company, the Administrative Agent, the other subsidiary borrower party thereto and the Lenders party thereto.

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DIEBOLD NIXDORF, Inc filing history →

Source: SEC EDGAR

accession 0000028823-22-000142

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