Unisys to price $400 million eight-year secured notes on Thursday; initial talk 7¼%-7½% area

By Paul A. Harris

Portland, Ore., Oct. 21 – Unisys Corp. plans to price a $400 million offering of eight-year senior secured notes on Thursday, according to market sources.

Initial guidance has the deal coming to yield in the 7¼% to 7½% area, a trader said.

J.P. Morgan Securities LLC is managing the deal.

The Rule 144A and Regulation S notes come with three years of call protection.

The Blue Bell, Pa.-based IT services provider plans to use the proceeds to fund a portion of its underfunded U.S. pension liability.

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