NCR Corporation (NCR) is trading higher Tuesday after the company announced the upsizing of 5.125% senior notes due 2029. Shares of NCR were up 1.83% to $37.56 a share Tuesday afternoon.
Here's Why NCR Corporation (NCR) Stock Is Up Tuesday
NCR will increase the aggregate principal amount of the 5.125% senior notes due 2029 from $1.1 billion to $1.2 billion, the additional $100 million aggregate principal amount will be issued at a price of 100.25% of the principal amount, according to an NCR press release.
The move will allow NCR to use the net proceeds to finance the consideration payable in connection with the Cardtronics Acquisition, repay certain indebtedness of Cardtronics, as well as pay related fees and expenses. If the escrow release conditions are not satisfied on or prior to the earlier of November 1, 2021 and the date on which the Company notifies the escrow agent, then the $600 million of the principal amount of the Notes will be subject to a special mandatory redemption should the trustee in writing determine that the escrow release conditions will not be satisfied.
Cardtronics’ strong debit network will further expand NCR’s payments platform and thus improve customer acquisition.
NCR Corporation provides software and services worldwide. It operates through Banking, Retail, Hospitality, and Telecommunications & Technology segments.
NCR has an Overall Score of 59. Find out what this means to you and get the rest of the rankings on NCR!
NCR Corp designs and services automated systems that streamline interactions between businesses and consumers. The company is the largest global vendor of ATMs and also sells point-of-sale terminals and self-service check-out systems for retail stores, and self-check-in kiosks for airlines and hotels. The firm derives the majority of its revenue from overseas.
