NCR Corporation’s High‑Yield Senior Notes Offering
April 29, 2020
Cravath represented the initial purchasers, led by BofA Securities, Wells Fargo Securities, Capital One Securities, Fifth Third Securities, J.P. Morgan Securities, MUFG, PNC Capital Markets LLC, RBC Capital Markets and SunTrust Robinson Humphrey, in connection with the $400 million 144A/Reg. S high‑yield senior notes offering of NCR Corporation, a leading global technology company. The transaction closed on April 13, 2020.
The Cravath team included associates Sarah K. Johnson, Tianyang (Daniel) Lin and Eric S. Goodwin on securities matters, partner Stephen M. Kessing, senior attorney Sarah F. Rosen and associate Michael A. Naclerio on banking matters, partner Matthew Morreale on environmental matters, associate Cecily Xi on tax matters, and associate Dixing Tang on executive compensation and benefits matters. Kevin L. Cheng also worked on securities matters, Duncan H. Hardell worked on tax matters and Brendon J. Rivard worked on executive compensation and benefits matters.
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People
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J.D., 2005, Duke Law SchoolOrder of the Coif, magna cum laude
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M.B.A., 2001, University of Southern California
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B.S., 1995, Miami University of Ohio
- New York
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J.D., 2005, Columbia Law SchoolHarlan Fiske Stone Scholar
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B.A., 2002, New York Universitymagna cum laude
- New York
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J.D., 1997, Columbia Law SchoolHarlan Fiske Stone Scholar
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M.S., 1994, University of Pennsylvania
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B.A., 1990, University of Pennsylvania
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B.A.S., 1990, University of Pennsylvania
- New York
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Deals & Cases
October 19, 2023
NCR Atleos Corporation’s $2.085 Billion Credit Facilities and $1.35 Billion High‑Yield Senior Secured Notes Offering and NCR Voyix Corporation’s $700 Million Credit Facilities in Connection with Spin‑Off of NCR Atleos Corporation from NCR Voyix Corporation
Cravath represented the administrative agent, joint lead arranger and joint bookrunner, in connection with $2.085 billion of credit facilities made available to NCR Atleos Corporation and $700 million of credit facilities made available to NCR Voyix Corporation (formerly known as NCR Corporation). The proceeds were used to partially finance the spin‑off of NCR Atleos Corporation, an industry‑leading financial technology company providing self‑directed banking solutions to a global customer base including financial institutions, retailers and consumers, from NCR Voyix Corporation, a leading global provider of digital commerce solutions for the retail, restaurant and digital banking industries. The credit facilities made available to NCR Atleos Corporation consisted of a $500 million revolving credit facility, a $750 million term loan “A” facility and a $835 million term loan “B” facility. The credit facilities made available to NCR Voyix Corporation consisted of a $500 million revolving credit facility and a $200 million term loan “A” facility. The facilities closed on October 16, 2023.
