NCR subsidiary plans $1.05B senior secured notes due 2030 to fund spin-off of ATM business

NCR Voyix Corp

$1.05B aggregate principal amount of senior secured notes due 2030 offered by NCR Atleos Escrow Corp.
Notes are in connection with NCR's spin-off of ATM-focused businesses into NCR Atleos; spin-off expected Q4 2023.
Proceeds held in escrow; if spin-off not consummated by Dec 31, 2023, notes subject to special mandatory redemption.
Net proceeds to finance cash distribution to NCR to repay existing debt, pay spin-off fees, and general corporate purposes.
Notes will be guaranteed by certain NCR Atleos domestic subsidiaries and secured by first-priority liens on assets.

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