NCR Atleos upsizes senior secured notes to $1.35B at 9.5%, maturity shortened to 5.5 years

NCR Atleos Corp

Upsized from $1.05B to $1.35B aggregate principal; notes priced at 98.75% of par.
9.500% senior secured notes due 2029; maturity shortened to five and a half years from seven.
Offering expected to close Sept 27, 2023; not conditioned on pending spin-off of NCR Atleos.
Proceeds to finance cash distribution to NCR for debt repayment, fees, and general corporate purposes.
Notes subject to special mandatory redemption if spin-off not consummated by Dec 31, 2023.

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