Unisys Announces Early Results of Previously Announced Cash Tender Offer

Core Viewpoint - Unisys Corporation is conducting a tender offer to purchase its outstanding 6.875% Senior Secured Notes due 2027, with early results indicating a high participation rate from noteholders [1][5]. Tender Offer Highlights - As of June 25, 2025, 98.98% of the total $485 million principal amount of the Notes has been validly tendered [3][5]. - The total consideration for the Notes accepted for purchase is $1,006.25 per $1,000 principal amount, which includes an early tender premium of $30 [3][5]. - The early settlement date for the tendered Notes is expected to be June 27, 2025 [5]. Proposed Amendments - The company has received the necessary consents to adopt proposed amendments to the indenture governing the Notes, which will eliminate most restrictive covenants and certain default events [5][9]. - The amendments will also release all collateral securing the Notes and modify other provisions in the indenture [5][9]. Financing Transaction - Concurrently, the company plans to amend its existing asset-based revolving credit facility and issue $700 million of Senior Secured Notes due 2031 [8]. - Proceeds from this financing transaction will be used to pay for the tendered Notes and related expenses [8]. Additional Information - Holders can continue to tender their Notes until July 11, 2025, with a final settlement date expected on July 14, 2025 [10]. - The terms and conditions of the tender offer and consent solicitation are detailed in an Offer to Purchase and Consent Solicitation Statement dated June 11, 2025 [11].