Diebold Nixdorf obtains $55M FILO facility at SOFR+8%, waives ABL overadvance until June 4, 2023

DIEBOLD NIXDORF, Inc

$55M senior secured 'last out' term loan (FILO) drawn in full, matures June 4, 2023.
FILO interest at adjusted term SOFR + 8.00% or base rate + 7.00%.
75-day waiver allows borrowings exceeding borrowing base up to $233.8M inclusive of FILO; no new loans permitted.
Must maintain actual borrowing base of at least $140M during waiver period.
Proceeds for working capital and general corporate purposes.

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 Amendment with JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, GLAS AMERICAS LLC, as European collateral agent, the subsidiary borrowers and guarantors party thereto and the lenders party thereto valued at $55 million (effective 2023-03-21).

Action: amendment
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, GLAS AMERICAS LLC, as European collateral agent, the subsidiary borrowers and guarantors party thereto and the lenders party thereto
Value: $55 million
Effective: 2023-03-21

Exact text from the filing

On March 21, 2023 (the “Closing Date”), Diebold Nixdorf, Incorporated (the “Company”) and certain of its subsidiaries entered into an amendment and limited waiver (the “Amendment”) to the Revolving Credit and Guaranty Agreement (as amended, restated, supplemented or otherwise modified from time to time, the “ABL Credit Agreement”), among the Company, JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, GLAS AMERICAS LLC, as European collateral agent, the subsidiary borrowers (together with the Company, the “ABL Borrowers”) and guarantors party thereto and the lenders party thereto.

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Source: SEC EDGAR

accession 0001193125-23-075887

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