Diebold Nixdorf, Incorporated announced it has entered into a restructuring support agreement with certain of its key financial stakeholders to effectuate a comprehensive debt restructuring transaction. The restructuring is expected to significantly reduce debt and leverage levels and provide substantial additional liquidity to support seamless ongoing operations and establish a long-term, sustainable capital structure for the Company. The Company will continue to pay vendors and suppliers through the expected restructuring process in the ordinary course of business.
The Company entered into this agreement with creditors who hold a significant majority of the Company's outstanding secured term loan debt and secured notes, including approximately 80.4% of the Company's superpriority credit facility; approximately 79% of the Company's first lien term loan; approximately 78% of the Company's first lien notes; and approximately 58.3% of the Company's second lien notes.
"Our company is focused on continuing our solid operational performance and delivering best-in-class products and services to banks and retailers around the world, “ says Octavio Marquez, Diebold Nixdorf chairman, president and chief executive office. “With the support of our creditors, we have reached an agreement to restructure and strengthen our balance sheet, enhance liquidity and position Diebold Nixdorf for long-term success. Our strengthened financial position also enables us to better serve our customers, employees, suppliers and partners. I am excited about the future of Diebold Nixdorf and all we will accomplish."
