Simpson Thacher Represents Unisys Corporation in $258.75 Million Offering of Mandatory Convertible Preferred Stock and in Related Tender Offer
03.04.11
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The Firm represented Unisys Corporation in connection with a registered offering of 2,587,500 shares of 6.25% Mandatory Convertible Preferred Stock (including the underwriters’ full exercise of their over-allotment option) at an initial liquidation preference of $100 per share. Unisys will use the net proceeds from the offering to redeem an aggregate of $124.7 million of its 12 3/4% Senior Secured Notes due 2014 and an aggregate of $86.3 million of its 14 1/4% Senior Secured Notes due 2015. In addition, Unisys commenced a cash tender offer in respect of the remaining aggregate principal amount of the Notes, for a maximum aggregate consideration of $220 million.
Unisys Corporation is a New York Stock Exchange-listed worldwide information technology company that provides its clients with a portfolio of IT services, software and technology.
The Simpson Thacher team included Risë Norman, Roxane Reardon, Rohith Parasuraman, Till Lefranc, Matt Reichstein and Solomon Bashi (Capital Markets) and Marcy Geller and Jonathan Talansky (Tax).