BLUE BELL, Pa., April 17, 2017 /PRNewswire/ -- Unisys Corporation
(NYSE: UIS) ("Unisys") announced today the closing of its
previously announced offering of $440.0
million aggregate principal amount of its 10.750% Senior
Secured Notes due 2022 (the "notes") through a private offering to
qualified institutional buyers pursuant to Rule 144A and to certain
persons outside of the United
States pursuant to Regulation S, each under the Securities
Act of 1933, as amended (the "Securities Act").
Unisys intends to use the net proceeds from the offering of the
notes (i) to redeem its outstanding 6.25% Senior Notes due 2017 in
full, including accrued and unpaid interest thereon, the required
call premium and other fees and expenses related to such repayment,
and (ii) for general corporate purposes, which may include funding
cost reduction and savings initiatives, obligations under its
defined benefit plans and investments in next-generation services
and technologies.
The notes are fully and unconditionally guaranteed on a senior
secured basis by each of the material domestic subsidiaries of
Unisys, which are Unisys Holding Corporation, Unisys AP Investment
Company I and Unisys NPL, Inc., each a Delaware corporation (the "subsidiary
guarantors"). In the future, the notes will be guaranteed by each
material domestic subsidiary and each restricted subsidiary that
guarantees the senior secured revolving credit facility and other
indebtedness of Unisys or another subsidiary guarantor. The notes
and the guarantees rank equally in right of payment with all of the
existing and future senior debt of Unisys and its subsidiary
guarantors and senior in right of payment to any future
subordinated debt of Unisys and its subsidiary guarantors. The
notes and the guarantees are structurally subordinated to all
existing and future liabilities (including preferred stock, trade
payables and pension liabilities) of the subsidiaries of Unisys
that are not subsidiary guarantors.
The notes have not been registered under the Securities Act or
the securities laws of any other jurisdiction and may not be
offered or sold in the United
States absent registration or an applicable exemption from
registration requirements of the Securities Act or the securities
laws of any other jurisdiction.
This press release is neither an offer to sell nor a
solicitation of an offer to buy any of these securities nor shall
there be any sale of these securities in any state or jurisdiction
in which such an offer, solicitation or sale would be unlawful
prior to the registration or qualification under the securities
laws of any such state or jurisdiction.
About Unisys
Unisys is a global information
technology company that specializes in providing industry-focused
solutions integrated with leading-edge security to clients in the
government, financial services and commercial markets. Unisys
offerings include security solutions, advanced data analytics,
cloud and infrastructure services, application services and
application and server software.
Forward-Looking Statements
Any statements contained
in this release that are not historical facts are forward-looking
statements as defined in the Private Securities Litigation Reform
Act of 1995. Forward-looking statements include, but are not
limited to, the anticipated use of proceeds by Unisys. These
forward-looking statements are based on current assumptions,
expectations and beliefs of Unisys and involve substantial risks
and uncertainties that may cause actual results and the timing of
events to materially differ from those expressed or implied by
these forward-looking statements. Factors that could cause or
contribute to such differences include, but are not limited to,
risks related to market and other general economic conditions and
other risks detailed in filings Unisys makes with the SEC from time
to time, including under the heading "Risk Factors" in Unisys'
Annual Report on Form 10-K for the fiscal year ended December 31, 2016. Unisys assumes no obligation
to update any forward-looking statements.
RELEASE NO.: 0417/9496
Unisys and other Unisys products and services mentioned herein,
as well as their respective logos, are trademarks or registered
trademarks of Unisys Corporation. Any other brand or product
referenced herein is acknowledged to be a trademark or registered
trademark of its respective holder.
UIS-F
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SOURCE Unisys Corporation