We advised an ad hoc crossover group of secured and unsecured noteholders and lenders on the transaction

Davis Polk advised an ad hoc group of noteholders and lenders to Diebold Nixdorf, Incorporated in connection with a comprehensive cross-border debt recapitalization transaction that entailed: a new $400 million superpriority senior secured term loan financing, the issuance by Diebold of extended-maturity term loans in exchange for existing first-lien term loans, a consent solicitation with respect to existing first-lien bonds, the issuance of junior-lien bonds in exchange for unsecured bonds and the exchange of revolving loans for commitments under a new global ABL facility.

Diebold 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, its 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.

The Davis Polk restructuring team included partners Damian S. Schaible and Adam L. Shpeen, counsel Christian Fischer, Robert (Bodie) Stewart and Christopher Robertson and associates Dylan A. Consla, Samuel Wagreich and Eric Hwang. The finance team included associates Jason Palios and Bryan Mendiola. The capital markets team included partners Maurice Blanco and Caitlin L. Wood, counsel Faisal Baloch and associate Javier Felix. The tax team included partner Lucy W. Farr and associate Yixuan Long. All members of the Davis Polk team are based in the New York office.

Copy link to share post