Unisys Corp Secures Funding with Goldman Sachs and Citi as Book-Runners

Unisys Corp, a US-based IT company, has secured funding with the help of Goldman Sachs & Company and Citi as book-runners for its offering of 2.25 million mandatory convertible preferred shares. The company also appointed Royal Bank of Scotland as a co-manager for the operation. The funds raised are expected to be channeled into debt redemption. The shares are mandatorily convertible in common shares on March 1, 2014, at a price of $100 apiece.

Key Takeaways:

• Unisys Corp has secured funding through an offering of 2.25 million mandatory convertible preferred shares.
• Goldman Sachs & Company and Citi served as book-runners for the operation.
• Royal Bank of Scotland was appointed as a co-manager for the offering.
• The funds raised are expected to be channeled into debt redemption.
• The shares are mandatorily convertible in common shares on March 1, 2014.
• The price of the shares was set at $100 apiece.
• Unisys Corp has a history of partnerships with major financial institutions, including Citi and Goldman Sachs.
• The company's debt redemption strategies have been supported by industry experts and investors.
• The offering demonstrates Unisys Corp's ability to secure funding in a challenging market environment.

Statistics:

• 2.25 million mandatory convertible preferred shares were offered.
• The shares are priced at $100 apiece.
• The funds raised are expected to be channeled into debt redemption.
• The shares are mandatorily convertible in common shares on March 1, 2014.
• Unisys Corp's stock price was at $25.73 as of December 21, 2010 (Source: Comtex SmarTrend).
• Unisys Corp's stock history indicates a positive trend with an uptrend on 11-05-2010 (Source: Comtex SmarTrend).

Sources:

• M2 COMMUNICATIONS (http://www.m2.com)
• Comtex SmarTrend (http://www.mysmartrend.com)
• Unisys Corp (NYSE:UIS) press release, February 22, 2011 (via COMTEX)