Unisys talks $350 million five-year secured notes at 8% area yield; pricing Tuesday

By Paul A. Harris

Portland, Ore., Sept. 22 – Unisys Corp. talked its $350 million offering of five-year senior secured notes (Ba2/BB) to yield in the 8% area, according to a syndicate source.

Books close at 2 p.m. ET on Tuesday, and the public offering is set to price thereafter.

Wells Fargo Securities LLC is the left bookrunner. BofA Merrill Lynch is the joint bookrunner.

Citigroup Global Markets Inc., HSBC Bank and RBS Securities Inc. are the co-managers.

The notes become callable after two years at par plus 50% of the coupon.

The Blue Bell, Pa.-based provider of technology services plans to use the proceeds for general corporate purposes.

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