NCR Voyix Corp (VYX): M&A transaction — NCR Voyix completes Digital Banking sale for $2.45B cash; repays $1.84B debt

NCR Voyix Corp

Sold Digital Banking business to Veritas Capital for $2.45B cash plus up to $100M contingent consideration.
Proceeds used to reduce $1.84B of debt: fully repaid $192.5M term loan, $200M revolver, and $251.5M trade receivables facility.
Tender offers settled: $397.9M of 5.250% notes due 2030 and $797.1M of 5.125% notes due 2029 purchased for ~$1.206B total.
Trade receivables facility terminated with no penalty; remaining debt after transactions is $1.105B.
CFO expects annualized interest expense on remaining bonds of ~$55M, improving financial position.

item 1.02 item 2.01 item 1.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

NCR Voyix Corp completed a disposition involving Dragon Buyer, Inc., an affiliate of The Veritas Capital Fund VIII, L.P. for $2.45 billion in cash, plus contingent consideration of up to an additional $100 million in cash (closed 2024-09-30).

Action: disposition
Counterparty: Dragon Buyer, Inc., an affiliate of The Veritas Capital Fund VIII, L.P.
Consideration: $2.45 billion in cash, plus contingent consideration of up to an additional $100 million in cash
Closing: 2024-09-30

Exact text from the filing

Banking Sale”). On September 30, 2024, Buyer and the Company completed the Digital Banking Sale pursuant to the Purchase Agreement. The purchase price for the transaction was $2.45 billion in cash, subject to a customary post-closing purchase price adjustment, as well as contingent consideration of up to an additional $100 million in cash upon the achievement of a

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NCR Voyix Corp filing history →

Source: SEC EDGAR

accession 0001193125-24-229015

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