NCR Atleos announces $1.05B senior secured notes offering due 2030 for spin-off funding

NCR Atleos Corp

Offering $1,050 million aggregate principal amount of senior secured notes due 2030.
Notes to be assumed by NCR Atleos upon spin-off consummation; secured by assets of NCR Atleos and guarantors.
Proceeds to finance cash distribution to NCR for debt repayment, fees, and general corporate purposes.
Spin-off of ATM-focused businesses into NCR Atleos expected to close Q4 2023; note offering not conditioned on spin-off.
Notes offered under Rule 144A/Regulation S; unregistered; special mandatory redemption if spin-off not consummated by Dec 31, 2023.

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