Simpson Thacher represented the initial purchasers, led by J.P. Morgan, in connection with the Rule 144A/Regulation S offerings of $700 million aggregate principal amount of 9.375% Senior Secured Notes due 2025 by Diebold Nixdorf, Incorporated (“Diebold Nixdorf”) and €350 million aggregate principal amount of 9% Senior Secured Notes due 2025 by Diebold Nixdorf’s wholly-owned subsidiary, Diebold Nixdorf Dutch Holding B.V. Simpson Thacher also represented JPMorgan Chase Bank. N.A., as joint lead arranger, in connection with the amendment of Diebold Nixdorf’s senior credit facilities to, among other things, extend the maturity of approximately $330 million of its revolving credit commitments and revolving credit loans from April 2022 to July 2023.
Diebold Nixdorf used the net proceeds from the notes offerings, along with cash on hand, to repay a portion of the amounts outstanding under its senior credit facilities, including all amounts outstanding under the term loan A facility and term loan A-1 facility and approximately $194 million of revolving credit loans, including all of the revolving credit loans due in December 2020, and for the payment of all related fees and expenses.
Diebold Nixdorf is a world leader in enabling connected commerce. It automates, digitizes and transforms the way people bank and shop. As a partner to the majority of the world’s top 100 financial institutions and top 25 global retailers, its integrated solutions connect digital and physical channels conveniently, securely and efficiently for millions of consumers each day.
The Simpson Thacher team included Art Robinson, Patrick Baron, Matt Petrone and Chirag Desai (Capital Markets); Patrick Ryan, Dan Kay, Robyn Cho and Julia Levenson (Banking & Credit); Soogy Lee and Jonathan Pall (Collateral); Dennis Loiacono (Real Estate); Jonathan Cantor (Tax); Lori Lesser and Corina McIntyre (IP); David Rubinsky and Pasco Struhs (ECEB); Adeeb Fadil and Noreen Lavan (Environmental); and Jennie Getsin (Blue Sky). Pinto Adhola and Nicholas Halliburton also provided valuable assistance on this transaction.