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Unisys secures $125M credit line

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Unisys secures $125M credit line

Unisys Corp. has secured a revolving credit facility that provides for loans and letters of credit up to $125 million, including a possible increase to $150 million in credit.

The agreement expires Oct. 5, 2022, subject to a springing maturity 91 days prior to the maturity date of the company's notes due 2021, unless certain conditions are met on that date. The agreement could also expire 60 days prior to the maturity date of the company's secured notes due 2022, unless those secured notes have not been redeemed or refinanced by that time.

Unisys can use the funds for working capital and general corporate purposes.

The credit facility is secured by the company's assets and the subsidiary guarantors, other than certain excluded assets. Unisys Holding Corporation, Unisys NPL Inc., Unisys AP Investment Company I and any future material domestic subsidiaries have guaranteed the credit facility.

JPMorgan Chase Bank is the agent for the lenders.