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.

Cravath also represented the initial purchasers in connection with the $1.35 billion 144A/Reg. S high‑yield senior secured notes offering of NCR Atleos Corporation. The proceeds of the offering were used to partially finance the spin‑off of NCR Atleos Corporation from NCR Voyix Corporation on October 16, 2023.

The Cravath team included partner Stephen M. Kessing and associates William Council and Julia Nagle and foreign associate attorney Ryan Law on banking matters; partners Michael E. Mariani and Matthew G. Jones and associates Gene Choi, Joanna L. Kessler and Jessica Azerad on capital markets matters; partner Andrew T. Davis and associate Emily R. Eskin on tax matters; partner Matthew Morreale on environmental matters; and associates Bianca Hsing and Kristin A. Sharman on executive compensation and benefits matters. Tristan Baylor also worked on tax matters.