Unisys Corp. (UIS) announced the pricing of $700 million aggregate principal amount of Senior Secured Notes due 2031 through a private offering. The Notes will be issued at par and will bear interest at a rate of 10.625% per year until maturity, payable semiannually in arrears on January 15 and July 15 of each year, beginning on January 15, 2026.
The offering of the Senior Secured Notes is expected to close on June 27, 2025.
Meanwhile, Unisys commenced a cash tender offer to purchase any and all of its outstanding $485 million aggregate principal amount of 6.875% Senior Secured Notes due November 1, 2027.
Unisys said it plans to use the net proceeds from the offering of the Senior Secured Notes, together with cash on hand, to finance the Tender Offer and Consent Solicitation and the payment of related premiums, fees and expenses, to redeem the Existing Notes that remain outstanding following the Tender Offer and Consent Solicitation on or after the par call date for the Existing Notes, to fund a portion of its long-term pension deficit and postretirement liabilities and for general corporate purposes.
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