Unisys Corporation has announced a proposed $700 million private offering of Senior Secured Notes. The company plans to use the net proceeds to refinance existing notes and partially fund its U.S. pension plan. This private offering is targeted at qualified institutional buyers and certain international investors. Concurrently, Unisys has initiated a cash tender offer to purchase its outstanding $485 million Senior Secured Notes due in 2027, aiming to amend the indenture governing these notes by removing restrictive covenants and modifying certain provisions. The Senior Secured Notes will be backed by assets of Unisys and its material domestic subsidiaries.
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