NCR’s Strategic Partnership with Blackstone
November 12, 2015
On November 12, 2015, NCR Corporation announced that it has entered into an agreement with Blackstone, one of the world’s leading investment and advisory firms, under which affiliates of Blackstone will invest $820 million in NCR in the form of perpetual convertible preferred shares. NCR will use the Blackstone investment to help fund a repurchase through a self‑tender of up to $1 billion of its common stock. Cravath is representing NCR in connection with this transaction.
The Cravath team includes associate Eric D. Rinder on M&A matters; partner Andrew J. Pitts and associate Vince A. Ferrito on securities matters; partner Christopher K. Fargo and associate Jonathan D. Grossman on tax matters; and partner Eric W. Hilfers and associates Jonathan J. Katz and Amy C. Benford on executive compensation and benefits matters. Justin B. Stein also worked on M&A matters and William A. Magioncalda also worked on securities matters.
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People
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M.B.A., 1995, Boston Universitywith High Honors
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J.D., 1994, Boston University School of Lawsumma cum laude
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B.A., 1988, Trinity College
- New York
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J.D., 2006, Columbia Law SchoolHarlan Fiske Stone; Michael Lynne Scholar
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B.A., 2003, Boston CollegeHonors Program, cum laude
- New York
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J.D., 1998, University of Chicago Law Schoolwith Honors
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A.B., 1995, Princeton University
- New York
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LL.M., 2013, New York University School of Law
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J.D., 2007, Benjamin N. Cardozo School of LawOrder of the Coif, Dean's Distinguished Scholar, summa cum laude
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B.S., 2003, Cornell University
- 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.
