Hardware

Diebold Nixdorf gains $55M in liquidity

March 22, 2023

Diebold Nixdorf has added an amendment to its asset-based credit facility to add a $55 million first-in-last-out term loan tranche. Its ABL lenders have also agreed to other modifications and waivers to provide a better borrowing framework, according to a press release.

Diebold Nixdorf had $3.46 billion in revenue in 2022 and entered 2023 with a backlog of approximately $1.47 billion. Its ATM and self-checkout shipments are expected to increase in the first half of 2023 by 14% and 51% respectively.

"We are pleased to have secured the FILO loan to provide financing for our near-term priorities. We will continue to partner with our lenders to develop long-term improvements to our capital structure which will better support our operating model and the cycles of our business," Octavio Marquez, chairman, president and CEO, Diebold Nixdorf, said in the release. "We continue to take steps to improve our business by becoming more agile and better equipped to navigate global macroeconomic impacts. Our solution set is as robust as it ever has been, and we intend to accelerate our leadership in core areas to deliver profitable and sustainable growth."

The company will maintain its $250 million non-FILO ABL tranche commitments.