BLUE BELL, Pa., March 25, 2011 – Unisys Corporation (NYSE: UIS) announced today that the early tender deadline and the withdrawal deadline with respect to its previously announced cash tender offer in respect of its 14 1/4% Senior Secured Notes due 2015 (the “First Priority Notes”) and 12 3/4% Senior Secured Notes due 2014 (the “Second Priority Notes” and, together with the First Priority Notes, the “Notes”) expired at 5:00 p.m., New York City time, on March 24, 2011 (the “Early Tender Time”). The depositary for the tender offer has advised the company that, as of the Early Tender Time, approximately $134,743,000 aggregate principal amount of the First Priority Notes and $190,247,000 aggregate principal amount of the Second Priority Notes have been validly tendered (and not validly withdrawn). Because the withdrawal deadline relating to the tender offer expired at 5:00 p.m., New York City time, on March 24, 2011, these Notes, as well as any subsequently tendered Notes, may not be withdrawn.
As previously disclosed, the tender offer is scheduled to expire at 5:00 p.m., New York City time, on April 8, 2011, unless extended or earlier terminated by the company. The maximum aggregate consideration for Notes purchased in the tender offer, excluding accrued and unpaid interest, will not exceed $220,000,000 (the “Maximum Payment Amount”). The company expects to accept for purchase (1) first, the First Priority Notes validly tendered (and not validly withdrawn), and (2) second, the maximum aggregate principal amount of the Second Priority Notes validly tendered (and not validly withdrawn) that can be purchased, so that the aggregate consideration payable for all Notes accepted for purchase, excluding accrued and unpaid interest, will not exceed the Maximum Payment Amount, with the amount of each Second Priority Note accepted for purchase prorated to the extent necessary. The company reserves the right, in its sole discretion, to waive, increase or decrease the Maximum Payment Amount.
The complete terms and conditions of the tender offer are described in the Offer to Purchase dated February 22, 2011 and the related letter of transmittal. The company has engaged Goldman, Sachs & Co. and Citi to act as dealer managers in connection with the tender offer. Questions regarding the tender offer may be directed to Goldman, Sachs & Co. at (212) 902-5183 (collect) or (800) 828-3182 (U.S. toll-free) or to Citigroup Global Markets Inc. at (212) 723-6106 (collect) or (800) 558-3745 (U.S. toll-free). Requests for documentation may be directed to Global Bondholder Services Corporation, the information agent and depositary for the tender offer, at (212) 430-3774 (for banks and brokers) or (866) 937-2200 (U.S. toll-free).
This press release is neither an offer to purchase nor a solicitation of an offer to sell the Notes or any other security. The tender offer is being made only by the Offer to Purchase and the related letter of transmittal. The tender offer is not being made to noteholders in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the tender offer is required to be made by a licensed broker or dealer, it shall be deemed to be made on behalf of the company by the dealer managers or one or more registered brokers or dealers licensed under the laws of such jurisdiction.
Unisys is a worldwide information technology company. We provide a portfolio of IT services, software, and technology that solves critical problems for clients. We specialize in helping clients secure their operations, increase the efficiency and utilization of their data centers, enhance support to their end users and constituents, and modernize their enterprise applications. To provide these services and solutions, we bring together offerings and capabilities in outsourcing services, systems integration and consulting services, infrastructure services, maintenance services, and high-end server technology. With approximately 23,000 employees, Unisys serves commercial organizations and government agencies throughout the world. For more information, visit www.unisys.com.
RELEASE NO: 0325/9029
Unisys is a registered trademark of Unisys Corporation. All other brands and products referenced herein are acknowledged to be trademarks or registered trademarks of their respective holders.
Niels Christensen, 215-986-6651
Jim Kerr, 215-986-5795