Diebold Nixdorf shares surge 27% on a new $55 million FILO tranche

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Diebold Nixdorf Inc (NYSE:DBD) shares jumped more than 27% after-hours following the company’s announced amendment to its asset-based credit facility (ABL) to add a new $55 million first-in-last-out term loan (FILO) tranche.

Additionally, Diebold Nixdorf’s ABL lenders have agreed to certain modifications and waivers to the ABL facility, facilitating their continued collaborative efforts to develop an updated borrowing framework. The existing $250M non-FILO ABL tranche commitments remain in place.

“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,” said Octavio Marquez, CEO of Diebold Nixdorf.