Transactions address certain near-term maturities and provide
$400 million in additional
financing
HUDSON,
Ohio, Dec. 29, 2022 /PRNewswire/ -- Diebold Nixdorf (NYSE: DBD), a world leader in
automating, digitizing and transforming the way people bank and
shop, today announced the company has completed the previously
announced transactions with certain key financial stakeholders to
refinance certain debt with near-term maturities and provide the
company with $400 million in new
capital. These transactions include the completion of its
previously announced exchange offer and consent solicitation with
respect to its outstanding 8.50% Senior Notes due 2024 and the
completion of its previously announced exchange offers and consent
solicitations with respect to its outstanding 9.375% Senior Secured
Notes due 2025 and Diebold Nixdorf Dutch
Holding B.V.'s 9.000% Senior Secured Notes due 2025.
Additional information about the transactions can be found in the
current reports on Form 8-K previously filed by the company with
the SEC and available on Diebold
Nixdorf's Investor Relations website.
![Diebold Nixdorf Primary Logo. (PRNewsFoto/Diebold Nixdorf) (PRNewsfoto/Diebold Nixdorf) Diebold Nixdorf Primary Logo. (PRNewsFoto/Diebold Nixdorf) (PRNewsfoto/Diebold Nixdorf)](https://mma.prnewswire.com/media/547686/Diebold_Nixdorf.jpg)
Octavio Marquez, Diebold Nixdorf president and chief executive
officer, said: "Our company is excited to move into 2023
having reached this important milestone, which provides us with the
capital to help normalize our operations, meet supplier
commitments, execute on our operating model and make strategic
investments in the business to further strengthen our global market
position. We are grateful for the support we've received from our
lenders and noteholders throughout this process, which we believe
confirms the financial community's confidence in our business. We
are operating with a leaner, more agile company that remains fully
focused on helping our banking and retail customers gain
efficiencies in their operations while creating positive consumer
experiences."
Evercore Group L.L.C. is serving as financial advisor to
Diebold Nixdorf on the debt
refinancing, and Sullivan & Cromwell LLP is serving as legal
counsel to Diebold Nixdorf.
About Diebold Nixdorf
Diebold Nixdorf, Incorporated (NYSE: DBD)
automates, digitizes and transforms the way people bank and shop.
As a partner to the majority of the world's top 100 financial
institutions and top 25 global retailers, our integrated solutions
connect digital and physical channels conveniently, securely and
efficiently for millions of consumers each day. The company has a
presence in more than 100 countries with approximately 22,000
employees worldwide. Visit www.DieboldNixdorf.com for more
information.
Twitter: @DieboldNixdorf
LinkedIn: www.linkedin.com/company/diebold
Facebook: www.facebook.com/DieboldNixdorf
YouTube: www.youtube.com/dieboldnixdorf
Forward-Looking Statements
This press release contains statements that are not
historical information and are "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements give current expectations or
forecasts of future events and are not guarantees of future
performance. These forward-looking statements include, but are not
limited to, statements regarding the impact of the refinancing
transactions on the company's future financial position,
anticipated operating results, strategic plans, future liquidity
and market position.
Statements can generally be identified as forward looking
because they include words such as "believes," "anticipates,"
"expects," "intends," "plans," "will," "believes," "estimates,"
"potential," "target," "predict," "project," "seek," and variations
thereof or "could," "should" or words of similar meaning.
Statements that describe the company's future plans, objectives or
goals are also forward-looking statements, which reflect the
current views of the company with respect to future events and are
subject to assumptions, risks and uncertainties that could cause
actual results to differ materially. Although the company believes
that these forward-looking statements are based upon reasonable
assumptions regarding, among other things, the economy, its
knowledge of its business, and key performance indicators that
impact the company, these forward-looking statements involve risks,
uncertainties and other factors that may cause actual results to
differ materially from those expressed in or implied by the
forward-looking statements.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date
hereof.
The factors that may affect the company's results include, among
others:
- the overall impact of the global supply chain complexities on
the company and its business, including delays in sourcing key
components as well as longer transport times, especially for
container ships and U.S. trucking, given the company's reliance on
suppliers, subcontractors and availability of raw materials and
other components;
- our ability to successfully convert our backlog into sales,
including our ability to overcome supply chain and liquidity
challenges;
- the ultimate impact of the ongoing COVID-19 pandemic and other
public health emergencies, including further adverse effects to the
company's supply chain, maintenance of increased order backlog, and
the effects of any COVID-19 related cancellations;
- the company's ability to successfully meet its cost-reduction
goals and continue to achieve benefits from its cost-reduction
initiatives and other strategic initiatives, such as the current
$150m+ cost savings plan;
- the success of the company's new products, including its DN
Series line and EASY family of retail checkout solutions, and
electronic vehicle charging service business;
- the impact of a cybersecurity breach or operational failure on
the company's business;
- the company's ability to generate sufficient cash to service
its debt or to comply with the covenants contained in the
agreements governing its debt and, if applicable, to successfully
refinance its debt in the future;
- the company's ability to attract, retain and motivate key
employees;
- the company's reliance on suppliers, subcontractors and
availability of raw materials and other components;
- changes in the company's intention to further repatriate cash
and cash equivalents and short-term investments residing in
international tax jurisdictions, which could negatively impact
foreign and domestic taxes;
- the company's success in divesting, reorganizing or exiting
non-core and/or non-accretive businesses and its ability to
successfully manage acquisitions, divestitures, and alliances;
- the ultimate outcome of the appraisal proceedings initiated in
connection with the implementation of the Domination and Profit
Loss Transfer Agreement with the former Diebold Nixdorf AG (which
was dismissed in the company's favor at the lower court level in
May 2022) and the
merger/squeeze-out;
- the impact of market and economic conditions, including the
bankruptcies, restructuring or consolidations of financial
institutions, which could reduce the company's customer base and/or
adversely affect its customers' ability to make capital
expenditures, as well as adversely impact the availability and cost
of credit;
- the impact of competitive pressures, including pricing
pressures and technological developments;
- changes in political, economic or other factors such as
currency exchange rates, inflation rates (including the impact of
possible currency devaluations in countries experiencing high
inflation rates), recessionary or expansive trends, hostilities or
conflicts (including the conflict between Russia and Ukraine), disruption in energy supply, taxes
and regulations and laws affecting the worldwide business in each
of the company's operations;
- the company's ability to maintain effective internal
controls;
- unanticipated litigation, claims or assessments, as well as the
outcome/impact of any current/pending litigation, claims or
assessments;
- the effect of changes in law and regulations or the manner of
enforcement in the U.S. and internationally and the company's
ability to comply with government regulations; and
- other factors included in the company's filings with the U.S.
Securities and Exchange Commission (the "SEC"), including its
Annual Report on Form 10-K for the year ended December 31, 2021, its Quarterly Reports on Form
10-Q for the quarterly periods ended March
31, 2022, June 30, 2022 and
September 30, 2022 and in other
documents the company files with the SEC.
Except to the extent required by applicable law or regulation,
the company undertakes no obligation to update these
forward-looking statements to reflect future events or
circumstances or to reflect the occurrence of unanticipated
events.
You should consider these factors carefully in evaluating
forward-looking statements and are cautioned not to place undue
reliance on such statements.
DN-F
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SOURCE Diebold Nixdorf,
Incorporated