Simpson Thacher Represents Initial Purchasers in $485 Million Senior Secured Notes Offering for Unisys
10.29.20
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Simpson Thacher represented J.P. Morgan Securities LLC and the other initial purchasers in connection with a Rule 144A/Regulation S offering by Unisys Corporation (“Unisys”) of $485 million aggregate principal amount of 6.875% Senior Secured Notes due 2027. Unisys intends to use the net proceeds from the offering to fund a portion of its underfunded pension liability. The offering was upsized from $400 million to $485 million.
Unisys is a global IT services company that delivers successful outcomes for the most demanding businesses and governments. Unisys offerings include digital workplace services, cloud and infrastructure services and software operating environments for high-intensity enterprise computing. Unisys integrates security into all of its solutions.
The Simpson Thacher team included Art Robinson, David Azarkh, Lisa Zhang and Arielle Trapp (Capital Markets); Soogy Lee (Collateral); Jennifer Neilsson (Executive Compensation and Employee Benefits); Genevieve Dorment and Loren Shokes (Intellectual Property); Jonathan Cantor and Suzy Yaster (Tax); Mike Isby (Environmental); and Jennie Getsin (Blue Sky). Adriana Estor-Restrepo also provided valuable assistance.